Technical Analysis

GBPUSD spikes higher on comments from EU on Brexit free trade deal

GBPUSD runs up above 100 day MA and 50% and backs off

The GBPUSD spiked higher on a headline that the “EU would offer the UK a super-charged free trade deal”.

The price of the GBPUSD spiked above the 100 day MA and the 50% retracement on buying but the price has since tumbled back down and looks to test the 200 hour MA below….(green line on the chart above)

Headline news and end of Friday trading makes for volatile price action. 

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