No back off from the GBPUSD. Headline from Dow Jones on Brexit progress is the catalyst.
HEADLINE : Citiing diplomats, Dow Jones reports that EU and UK make progress in Brexit talks, divorce terms could be settled by Monday.
As a result, the GBPUSD has made a break higher and in the process moved above the 100 day MA, 50% retracement of move down from Sept 20 high, and the topside trend line at 1.31137. The price is now breaking above the high from yesterday at 1.31326 and looks toward the 61.8% at 1.31538 next.
Risk is now the cluster of support at the 1.3100-137 area (yellow area). Stay above is more bullish.
