Breaking: GBP/USD tumbles as UK official says getting Brexit deal next week is unlikely

Yohay Elam FXStreet

A UK official is quoted as saying that getting a Brexit deal by next week is unlikely. The UK is a long way from getting what it wants on the Irish backstop. Earlier, a spokesman said that both sides are making progress but there is a lot more hard work to do. The UK wants to change the legal text while the EU is only willing to change the non-binding declarations.

Time is running out until Brexit Day, March 29th, 2019. At the moment, the UK has not asked for an extension of Article 50.

GBP/USD tumbled down from a high of 1.3070 to 1.3030.

GBP USD Brexit pessimism February 21 2019

UK PM Theresa May will deliver a statement on Brexit on February 26th and a vote is scheduled for February 27th. Defections from both parties have made the political situation more chaotic.

GBP/USD has support at the round number of 1.3000, followed by 1.2920. Resistance is at 1.3080.

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.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.