Breaking: GBP/USD soars above 1.35 to highest since 2018 on Brexit deal hopes

Yohay Elam FXStreet

GBP/USD has burst higher, smashing the 1.35 and hitting a high of 1.3527 at the time of writing. It is changing hands at the highest levels since May 2018, a 31-month high.

Brexit deal hopes have been fueling sterling's rise. Earlier in the day, an unnamed EU official said an agreement is "imminent." On the other hand, a French minister said that his country could veto a deal if it is dissatisfied. The EU and the UK are trying to bridge the divide over three remaining topics: fisheries, governance and a level playing field.

Update: The uptrend continues and GBP/USD has hit a new high of 1.3539,

More GBP/USD Forecast: Last-minute Brexit crisis may provide buying opportunity

The monthly cable chart is showing a break above the December 2019 peak of 1.3515. Further above, 1.36 and 1.3730 are the big levels to watch.

Earlier, US Nonfarm Payrolls disappointed with an increase of only 245,000 jobs, around half the early expectations. Markets are watching teh impact of US jobs on stimulus talks.

See NFP Quick Analysis: Why the meager 245K rise is unlikely to depress the dollar, three reasons

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.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.