GBPUSD D1 10 26 2020 1210

This weekend’s talks between the EU and UK in London have been extended Wednesday as both sides push to get a deal signed off before the end of the transition period. Talks will then move to Brussels on Thursday. The two sides are still seemingly apart on fisheries and state aid issues, despite positive sounds last week. France, according to the Daily Telegraph, is still refusing to compromise on access to the UK’s fishing grounds, and while this remains the case then progress is expected to be slow.

There is very little on the economic calendar this week to guide Sterling, while the latest coronavirus numbers show new infections around 20,000 while there have been another 151 fatalities. Patients admitted to hospital and patients in ventilator beds numbers are also rising sharply.

After touching 1.3180 last week, GBPUSD has faded back to just above 1.3000 this morning and now approaches not just big figure support but also a 20- and 50- day simple moving average crossover which needs to hold if cable is to push higher. A conclusive break lower could open the way to the recent double low around 1.2860.

 

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