The British Pound roared back to life on Tuesday evening after Prime Minister Theresa May said she will be asking the EU for a “short” extension to the Article 50 process.
Buying sentiment towards Sterling was further supported by May’s offer to hold fresh talks with Labour. While the GBPUSD has scope to edge higher, it remains too early to come to any conclusions with investors waiting for further developments on this matter. Focusing on the technical picture, the GBPUSD has the potential to test 1.3210 if a daily close above 1.3100 is achieved.
Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.