Breaking: GBP/USD jumps as Johnson and Varadkar see pathway for a Brexit deal


UK Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar have said that they could see a pathway for a deal. The leaders released a joint statement after a long meeting in a wedding venue to discuss the UK's divorce from the EU. 

The meeting comes one week ahead of the all-important EU Summit next week and three weeks ahead of the current Brexit date. Talks had already seemed to be on the verge of collapse as both sides were unable to find common ground on a solution for Northern Ireland. 

The statement lacks details but agreed they will reflect on the discussions with their colleagues. 

GBP/USD has jumped from around 1.2215 to 1.2273 before settling somewhat lower.

Resistance awaits at 1.2290, followed by 1.2310. Support awaits at 1.22. Here is how the move looks on the 15-minute GBP/USD chart:

GBP USD Varadkar Johnson meeting October 10 2019

Here is part of the short statement: 

Both continue to believe that a deal is in everybody’s interest. They agreed that they could see a pathway to a possible deal.

Their discussion concentrated on the challenges of customs and consent.

They also discussed the potential to strengthen bilateral relations, including on Northern Ireland.

They also agreed that UK Brexit Secretary Stephen Barclay will meet Chief EU Negotiation Michel Barnier tomorrow in Brussels.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: At risk of extending its slide

The greenback closed the week appreciating against most major rivals, although EUR/USD settled in the 1.1780 price zone, holding on to modest weekly gains. EUR/USD decline corrective on the broader view but could extend its slump in the shorter-term.

EUR/USD News

GBP/USD: Limited bearish potential

The GBP/USD pair finished the week with modest losses at 1.3050, giving up to the dollar’s demand at the end of the week. The Cable is trading above the 1.3000 level, which limits the bearish potential.

GBP/USD News

Gold: Acceptance above $2050 critical to revive the uptrend

Gold’s record-breaking rally could resume on a sustained move above $2050. RSI on 4H chart stays in the bullish territory, pointing to the upside. XAU bulls to buy the dips around $2010 in the week ahead?

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures