Analysis Market overview

GBPUSD overview 23.12.2020

Sterling firms on Brexit hopes and partial lift of French blockade.

Sterling has been rising today after France lifted a partial border blockade it installed to stop the spread of a fast-spreading new COVID-19 strain previously discovered to be widely circulating in UK. The sterling sentiment was also improved today on hopes from a post-Brexit trade deal despite discouraging comments from both sides on the fisheries. The fact that UK is now seen as the damaged party due to new covid strain would most likely force EU authorities to soften their stance on some of the disputed issues in the Brexi negotiations and at the very least to extend the Brexit deadline – both of these probabilities are bullish for the sterling.

Expect buyers on downward corrections.

Next resistance to watch – 1.3628

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