Celebrating 10 Years of Trusted News Discovery
One News Page
> >

EUR/GBP: rallies on Brexit negotiations heading right to the wire Thursday, 18 October 2018
· *EUR/GBP is testing the commitments of the bears at the descending trendline formed mid-late September and is supported by the 4hr 21 SMA while there is plenty of room to go before overbought according to RSI 14 on the same time frame as MACD crosses over into the bullish territory. *
· *EUR/GBP is currently trading at 0.8796 with a high of 0.8803 from a low of 0.8770. *

There was no breakthrough on the key issue of how to avoid new visible border checks between Northern Ireland and the Republic of Ireland after Brexit, and EUR/GBP has popped as Brexit negotiations look set to continue to the bitter end. 

While the European Union and Britain have given themselves a few more weeks to break the deadlock in their Brexit talks, The current disagreements among member states are unlikely to be bridged before the end of the year making for a possible winter of discontent on both the streets of the UK and the pound. The next European Council summit meeting is on Dec. 13-14. European Union negotiator Michel Barnier believes a Brexit deal must be done by December to give parliaments on both sides of the Channel time to ratify it before Britain's scheduled exit on March 29.

*Britain must simply pick*

· *France's Macron: Brexit is now a British political issue, no longer a technical one*

There are many ways to skin a cat,” an EU diplomat working on the Brexit conundrum said. “But only so many — and we have looked at all of them. So it’s either the backstop or all of the United Kingdom staying inside our customs zone.”

“Now, Britain must simply pick.”

*EUR/GBP levels*

EUR/GBP is well on the way for a test above R1 having recovered nice, from the 0.8723 Fibonacci retracement which otherwise guards the 8700/.8697 June lows. 

"This rebound is viewed as corrective only and near-term rallies will find initial resistance at 0.8834 200 day ma", analysts at Commerzbank argued, which is between R2 and R3 that guard a break to 0.8913 a the 55-day ma - " EUR/GBP will now stay offered below here." The analysts added that the Elliott wave count is implying that the rebound will falter at 0.8835/65. Failure at 0.8697 would target the 0.8620 2018 low."

You Might Like

Other recent news in Markets

9 Quick Things Investors Should Know About Keppel REIT’s Latest RESULTSRedacted MUELLER REPORT Mentions Bitcoin
Crypto Retailer Bittreo Releases SOFTWARE to Help Anyone in The World Start a Crypto BrokeragePeople's UNITED Financial Inc (PBCT) Q1 2019 Earnings Call Transcript
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.