Theresa May close to Brexit agreement with EU as DUP weigh up the deal

Author: Greg Michalowski | Category: News

Expectations are that PM May will sign deal as early as Friday morning 

The UK Telegraph is  reporting that PM May is close to finalizing details for a Brexit deal. She is expected to travel to Brussels tomorrow morning to sign the deal. 

The GBP ended the NY session (and day) trading near highs for the day in anticipation of a deal being made.  

Looking at the GBPUSD, the pair cracked above the 200 and 100 hour MAs at 1.3420-289 and raced up to a high of 1.3483.  The pair has been consolidating between 1.3447 and 1.3483. The 100 and 200 hour MA are now risk again for longs looking for more upside.  

Yesterday, the market did take a run to the downside and in the process fell below a floor support area near 1.3455. That was reversed, however, with the crack above the MAs signally, buying is now the preferred bias.  

The pair is trading the Brexit news. The most recent is more bullish.  
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