Market Updates: GBP/USD Spikes, Donald Trump’s Ambassador to the UK Speaks

Posted Monday, December 31, 2018 by
Arslan Butt • 1 min read

The GBP/USD spiked over 50 pips as investors focus on the lightning trade war sentiment. Especially after the US President Donald Trump tweeted that he and Chinese leader Xi Jinping had made “big progress” in a telephone conversation about the trade.

Secondly, Donald Trump’s ambassador to the UK, Woody Johnson, stated that Mr. Trump was “looking forward to and hoping” that a post-Brexit bilateral trade agreement will be struck between the US and the UK, giving an extra boost to Sterling.

The GBP/USD pair has crossed above a strong resistance level of $1.2700 to place a fresh high near $1.2749. Well, looking at the power of the bull, it looks like the pair will continue its bullish momentum until $1.2785 today.

Good luck!

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