The currency remains supported as optimism over a historic Brexit deal sustains. On Thursday, UK PM May briefed her cabinet that the main sticking point of the Irish border is close to being settled.
Next week, European Union leaders will meet to discuss a possible Brexit deal with Britain over dinner in Brussels on Oct. 17, and that will take center stage.
For now, the hourly upcycle in the GBP/USD continues its march higher but the latest volume sequence is not looking too promising for being a buyer at these highs.
The reduction in buy-side tick volume occurs at the 100% fib target along with a retreat in UK vs US 10yr yield spreads. Sterling feels fragile here, underpinned by DXY weakness.
Next week, European Union leaders will meet to discuss a possible Brexit deal with Britain over dinner in Brussels on Oct. 17, and that will take center stage.
For now, the hourly upcycle in the GBP/USD continues its march higher but the latest volume sequence is not looking too promising for being a buyer at these highs.
The reduction in buy-side tick volume occurs at the 100% fib target along with a retreat in UK vs US 10yr yield spreads. Sterling feels fragile here, underpinned by DXY weakness.
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