Critical point of negotiations
A spokesman for PM May’s office is repeating some comments made earlier by UK Brexit Secretary Raab saying:
- May told ministers it was always clear that there would come a critical point in Brexit negotiations.
- Now is the time to hold nerve
For the GBPUSD, the price has moved away from the 200 hour MA at 1.3128 and has retraced 50% of the day’s trading ranges at 1.31141. The 200 bar MA on the 5-minute chart is at 1.31099. A break below would look toward the close from Friday at 1.3075 area.
The move back below the 200 hour MA has muddied the bullish water. Earlier today, the 100 hour MA at 1.31616 currently stalled the rally.