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| GBP/USD four-hour chart, source:FXDD.com |
The agreement of Brexit draft supported sterling. Price of currency pair GBP/USD and futures, 6BZ19 rose, and currency pair ended this week with 1.29475 and futures 2019-12, 6BZ19 with 1.3019.
Since English's choice of Brexit, sterling has been devaluated, due to the anxiety of British economy. And British Pound has been under downward trend line.
The dispute among English and administration has disappointed market participants. Boris Johnson, Premier since July spoke he didn't care even 'No Deal Brexit' and pound devalued more.
The agreement in the week gave the expectation of soft Brexit and led sterling up.
The pair GBP/USD broke through 20 moving average and 120 exponential moving average sequentially. Daily chart and four-hour chart showed rising price along upper band in Bollinger Bands. And sterling reached upper band and faced 120 exponential moving average in the weekly chart.
There may be the correction, but the trend seems upward. An news media reported sterling could reach 1.30 and was even able to 1.33 over if British parliament approved it citing analyst's comment. The opposition doesn't agree the draft yet, and it restrain the rising of sterling.
U.S. economy indices show U.S. economy is not always good. It can make Fed cut interest rate again. and devalue dollar.
As well as euro, sterling price seems to rise against U.S. dollar in short term.
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