Breaking: GBPUSD shoots above 1.2950 on hopes for a delay in Brexit

Yohay Elam FXStreet

The European Union seems to be waiting for a formal request to extend Article 50 and push back Brexit. They said such a UK request had not been received yet.

The full quote:

The European Commission said it did not receive any request for Brexit extension saying that normally the extension of Brexit deadline would not be open-ended.

GBP/USD shoots higher and hit a daily high of 1.2958 before consolidating the gains. Resistance is seen at the round number of 1.3000 while support awaits at 1.2920, which was the previous daily high, followed by 1.2870.

Here is the move on the chart:

GBP USD Brexit extension February 13 2019

Earlier, ITV revealed that Olly Robins, a senior confidant to PM Theresa May, said that the vote will come only on the last week of March and that members will face two options: approving the deal or accepting a long extension. Robins was overheard at a hotel bar in Brussels. The news was not categorically denied by No. 10.

May speaks in parliament, in the weekly Prime Minister's Questions (PMQ). Extending Brexit beyond March 29th will be one of the topics.

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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