Breaking: GBP/USD soars above 1.35 to highest since 2018 on Brexit deal hopes

Yohay Elam FXStreet

GBP/USD has burst higher, smashing the 1.35 and hitting a high of 1.3527 at the time of writing. It is changing hands at the highest levels since May 2018, a 31-month high.

Brexit deal hopes have been fueling sterling's rise. Earlier in the day, an unnamed EU official said an agreement is "imminent." On the other hand, a French minister said that his country could veto a deal if it is dissatisfied. The EU and the UK are trying to bridge the divide over three remaining topics: fisheries, governance and a level playing field.

Update: The uptrend continues and GBP/USD has hit a new high of 1.3539,

More GBP/USD Forecast: Last-minute Brexit crisis may provide buying opportunity

The monthly cable chart is showing a break above the December 2019 peak of 1.3515. Further above, 1.36 and 1.3730 are the big levels to watch.

Earlier, US Nonfarm Payrolls disappointed with an increase of only 245,000 jobs, around half the early expectations. Markets are watching teh impact of US jobs on stimulus talks.

See NFP Quick Analysis: Why the meager 245K rise is unlikely to depress the dollar, three reasons

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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