Market Updates: GBP/USD Spikes, Donald Trump’s Ambassador to the UK Speaks
Arslan Butt•Monday, December 31, 2018•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.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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