GBPUSD Rises As Brexit Talks Near

November 18, 2020

By Orbex

The British pound sterling was trading stronger on Tuesday as Brexit talks gain steam.

Despite the modest gains, the GBPUSD is well within the confines of the 1.3300 level of resistance and 1.3122 level of support.

A breakout from this sideways range is likely to coincide with any Brexit related news.

Get our Weekly Commitment of Traders Reports: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

For the moment, the four-hour Stochastics oscillator is trading near the overbought levels.

This could mean that price action might pull back from the current highs.

As long as GBPUSD remains within the said range, the bias remains flat.

By Orbex