The pound swung between gains and losses against the dollar Thursday as traders mulled differing headlines that suggest little progress on the U.K. and EU breaking the deadlock in Brexit talks.
The U.K. and EU continued talks in Brussels to iron out key issues holding up the potential post-Brexit deal, but differing reports of progress suggest both sides remain wide apart on reaching a consensus. Reuters reported, citing an EU official, that were no signs of a “landing zone” on key sticking issues, including fisheries and the level playing field in the latest trade negotiations with the U.K.
That cooled optimism from an earlier Financial Times report, citing unnamed sources, that a landing zone on state aid has been identified but “fishing is the last sticking point.”
TREND : WEAK BEARISH
Time : 02/10/2020
Pivot : 1.2886
Technical View : LONG ABOVE 1.2906
Target : 1.2926, 1.2969, 1.3052, 1.3121
Technical View : SHORT BELOW 1.2866
Target : 1.2846, 1.2778, 1.2721, 1.2627