- DUP rejects key parts of Brexit deal and exerts some fresh pressure.
- The downside is likely to be limited ahead of the key EU Summit.
The GBP/JPY cross came under some pressure during the Asian session on Thursday and extended the previous session's modest pullback from the 140.00 handle, or near five-month tops.
The British Pound witnessed a fresh wave of selling in the past hour or so in reaction to negative Brexit headlines, wherein the Northern Irish Democratic Unionist Party has expressed its discontent with several points in the Brexit deal that the UK and the EU are finalizing.
Brexit newsflow continues to influence
Given that the small party's support is critical for the UK Prime Minister Boris Johnson to get the Brexit deal passed through the Parliament, the latest development forced investors to temper their expectations for a Brexit deal at the next EU Summit starting this Thursday.
The cross weakened back below the 139.00 round-figure mark, albeit the downside seems limited as investors might refrain from placing any aggressive bets ahead of the crucial European Council Summit, which will determine whether the UK will leave the EU with a deal on October 31 or not.
Technical levels to watch
|Today last price||138.8|
|Today Daily Change||-0.72|
|Today Daily Change %||-0.52|
|Today daily open||139.52|
|Previous Daily High||140.12|
|Previous Daily Low||137.48|
|Previous Weekly High||137.9|
|Previous Weekly Low||130.42|
|Previous Monthly High||135.75|
|Previous Monthly Low||126.67|
|Daily Fibonacci 38.2%||139.11|
|Daily Fibonacci 61.8%||138.49|
|Daily Pivot Point S1||137.96|
|Daily Pivot Point S2||136.4|
|Daily Pivot Point S3||135.32|
|Daily Pivot Point R1||140.6|
|Daily Pivot Point R2||141.68|
|Daily Pivot Point R3||143.24|
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.