GBP Technical analysis Week 16th ~ 20th November 2020

The sterling appreciates as Brexit deal prospects improve

The pound has appreciated across the board at the end of the week and is up against the EURO and USD on the back of news about the exit of Prime Minister Jonson’s top adviser, Dominique Cummings. The market has assumed Cummings leaves as a signal that the UK will adopt a more favorable approach as the Brexit negotiations reach their final stage.

After missing the mid-November deadline, the negotiators are expected to return to the table on Monday in an attempt to make some progress ahead of a crucial EU leaders’ meeting on Thursday. The positions in key issuer such as fisheries and the level playing field remain the main obstacles to avoid an unorderly exit from the Union.

92% Strong Buy against USD
Weak EURO 89% Strong Sell against GBP
41% Buy Medium against JPY (Yen)
1102476% Strong trend against CHF (Swiss)
46% Medium Buy against AUD
74% Strong Buy against NZD
88% Strong Buy against CAD

Recommended Strong Uptrend move for Pound Sterling against others pair on next week if BREXIT post positive results

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