Can GBP / USD Rise After Brexit Negotiations Resume?

 Pound Sterling trading last week was somewhat slow with looking for a clearer direction of movement so that the end of the week.


This is due to the reaction of investors based on the development of the Brexit negotiations between the European Union (EU) and the UK where there is still a gap to reach a negotiation agreement.


On Friday, the Pound surged again as the latest developments cast an optimistic shadow for the negotiations decision.


At the end of the week, UK Prime Minister Boris Johnson and European President Ursula von der Leyen have agreed to continue talks for the two sides' future relations.


The pound is trading higher, but it is still under the confidence that the negotiations will reach full agreement.


On the chart of the GBP / USD currency pair, closing prices last week around 1.29300 after surging 120 pips in the European session on Friday.


Continuing trading at the start of this week in the Asian session, prices showed little increase. The price movement above the support level Moving Average 50 (MA50) on the frame of 1 hour the price gives an indication that the trend is still bullish.


With the outlook for the US dollar persistently weak following the mixed NFP jobs data report and President Donald Trump's health issues, prices could make a move towards the 1.3000 resistance level.



On the other hand, if the Pound trades down again, the price will re-plunge below the 1.29000 level.


The slides lower so that they removed the support level last week will push prices towards the RBS (resistance become support) zone at 1.27600.