The Brexit issue remains the main focus of the market this week while most markets will close in conjunction with the Christmas celebrations over the weekend.
Repeated reports of different daily developments on the Brexit negotiations have made investors more vigilant in controlling the risk of trading in the market.
Most recently, the Pound Sterling moved strongly on Wednesday yesterday after discussions were reported to continue today and the results are expected to be finalized.
Hopes for negotiations to be reached have prompted European currencies to strengthen. If the deal is signed, the announcement of the official decision by UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen will await investors.
On Wednesday's trading, the price on the GBP / USD pair chart jumped around 200 pips to the high of 1.35600 before closing the New York session below 1.35000 again.
A surge above the Moving Average 50 (MA50) support level in the 1 hour time frame has also given an early signal for a higher price rise.
Continuing trading in the Asian session this morning, the price continued to rise above the level of 1.35000 and test the level reached at yesterday's price.
A higher price increase is expected to test the resistance zone at 1.36000 and the price will soar if the Brexit agreement is reached.
On the other hand, if the development of negotiations remains risky, the price will plummet below the 1.35000 level and move to the lower level at 1.34000.
The lower downtrend will return to the 1.33000 zone before the 1.32000 support zone becomes the target of the next downtrend.
