GBP/USD bulls a pip too far ahead of PM May's keynote speech tonight?
|Currently, GBP/USD is trading at 1.3572, down -0.05% on the day, having posted a daily high at 1.3585 and low at 1.3571.
Britain and the EU are in a deadlock
GBP/USD was better bid after the Asian lows to 1.3470. Cable rose to 1.3520 resistance area before spiking hard in late London on the back of the market's expectations over Friday's keynote speech in Florence, Itlay that will include the announcement that the UK will pay an EUR 20 B package during the transition period in leaving the EU seen as positive for the pound. Brussels was looking for 60B, but the negotiations will commence here as a starting point and have put the UK in the driving seat.
Brexit Florence speech: clock ticking as key European Council vote draws nearer - ING
GBP/USD levels
Support levels: 1.3535 1.3490 1.3450
Resistance levels: 1.3615 1.3650 1.3690
Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, the price has recovered above a now flat 20 SMA, whilst technical indicators entered the positive territory, maintaining their upward slopes, although with limited momentum, favoring the upside anyway.
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