GBPUSD BUYERS BACK IN CONTROL ABOVE 1.2785

The British pound has moved sharply higher against the US dollar after news that the UK has struck a Brexit deal with the EU over the financial services industry. The GBPUSD pair has an intraday bullish bias while trading above the 1.2785 level and is now supported by rising MACD and Momentum indicators. The Bank of England interest rate decision later today is the key risk-event for sterling on Thursday.

The GBPUSD pair is intraday bullish while trading above the 1.2785 level, key resistance is now found at the 1.2850 and 1.2930 levels.

If the GBPUSD pair moves below the 1.2785 level, sellers may test towards the 1.2730 and 1.2700 support levels.