Breaking: GBP/USD soars above 1.35 on hopes for imminent Brexit deal

Yohay Elam FXStreet

EU member states have started to prepare procedures for a new trade deal from January 1, if one is agreed. It seems that a Brexit deal is imminent amid multiple reports from British journalists.

The Sun's Harry Cole says that a "Brexit deal is in sight" He adds that a row over batteries is holding up the final accord.

GBP/USD has jumped above 1.35, zooming in on the Sunday gap. Cable closed the week at 1.3521 on Friday and it is hitting that mark.

Here is the move on pound/dollar:

Update: The Financial Time's Sam Flemming also reports that recent progress in talks raises hopes of an imminent deal.

Looking at the four-hour chart, the Relative Strength Index is well below 70, far from overbought territory and allowing the cable to run higher.

Here is the tweet from Cole:

JUST IN: Brexit deal could be shook on today but for a last minute row about.... BATTERIES: https://t.co/RuoOdXNYsy
— Harry Cole (@MrHarryCole) December 23, 2020

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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