(DAILY NOTION) GBP/USD - British Pound Bulls as Brexit Optimism, Next Mover: Brexit Negotiation

Source: tradingview

GBP/USD moved down gradually after hitting the 1.3563 intraday high to 1.3550 on Thursday. Recent uncertainty about the Brexit deal, waiting for a deal confirmation from the EU and the UK as well as the U.S. dollar weakness favor the pair for traders. Market is expected that the deal will be able to come up ahead of Christmas.

Other than waiting for the Brexit announcement, U.S. President Donald Trump threatened that he won't sign Covid-19 stimulus bill, saying that it should be increase the amount in the stimulus checks, which turned down the stimulus bill. While nothing negative is likely to roll out from the Congress, any surprises will be cheered amid the present optimism.

It should be expect that British pound will be in high volatile due to the holiday-thinned trading. Also, traders will be react quickly to the pair if any moves on the Brexit news.

Despite on the recent upward movement for the pair, RSI indicator is in the moderate territory and still has room to gain upwards. Analyst pointed out that GBP/USD will move toward s the next resistance level of 1.3575 if managed to settle above the resistance level of 1.3563. Besides that, GBP/USD will move towards the December high at 1.3625 if settle above the resistance level of 1.3575.

GBP/USD will move

FOLLOWME GBP/USD Overall Sentiment (As of 03:20 p.m, Dec 24, 2020),

Short - 58.14%

Long - 41.86%