GBP/USD jumps to fresh highs on Brexit headlines

Pound gains momentum across the board on latest Brexit headline.
GBP/USD hits weekly intraday highs and retreats modestly.
Ahead: FOMC minutes and May-Juncker meeting.

The GBP/USD jumped from 1.3025 to 1.3077 in a few minutes, hitting the highest intraday level since February 4. It pulled back and as of writing trades at 1.3055/60, off highs but up 30 pips from the level it had an hour ago.

The move to the upside took place after Spain’s foreign minister mentioned that a new Brexit deal is “being hammered” in Brussels. UK PM May will meet EC President Jean-Claude Juncker. Still, the main obstacle for May’s Brexit continues to be at the Parliament. Today, three Conservative MP resign to join the newly created Independent Group.

The greenback is modestly lower ahead of the FOMC minutes that will be released at 19:00 GMT. In Wall Street, equity prices are little changed, and US bond yields are marginally higher.

GBP/USD Short-term levels

To the upside, the immediate resistance is seen around recent highs at 1.3075, followed by 1.3100/05 (Feb 4 high). On the flip side, support now could be located at 1.3045, 1.3010 (daily low) and 1.2975.

GBP/USD

Overview:
    Today Last Price: 1.3058
    Today Daily change: -0.0009 pips
    Today Daily change %: -0.07%
    Today Daily Open: 1.3067
Trends:
    Daily SMA20: 1.2999
    Daily SMA50: 1.2843
    Daily SMA100: 1.2878
    Daily SMA200: 1.3002
Levels:
    Previous Daily High: 1.3074
    Previous Daily Low: 1.2895
    Previous Weekly High: 1.2959
    Previous Weekly Low: 1.2773
    Previous Monthly High: 1.3214
    Previous Monthly Low: 1.2438
    Daily Fibonacci 38.2%: 1.3006
    Daily Fibonacci 61.8%: 1.2963
    Daily Pivot Point S1: 1.295
    Daily Pivot Point S2: 1.2833
    Daily Pivot Point S3: 1.2771
    Daily Pivot Point R1: 1.3129
    Daily Pivot Point R2: 1.3191
    Daily Pivot Point R3: 1.3308

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