Earlier today we heard the UK Prime Minister spokesperson say that Boris Johnson is going to get a Brexit deal, most probably. Although, no one believes him that a deal an be done at this point. The failure of the GBP to rally on his comments this morning, show that.

Now, the Irish Foreign Minister Coveney is playing down any hopes for a deal once again. he made a few comments on the matter just now, so have a look for yourself:

• Ireland won’t sign up for permanent border checks
• Doesn’t think checks needed near border
• Ireland won’t sign up for permanent border checks
• UK has to come up with solutions
• Removing backstop would create ‘huge problems’
• EU open to deal, yet to receive written proposals

So, no Brexit deal without a solution to the Irish border, which we knew from the beginning of time. The GBP has rallied 50 pips higher meanwhile, but the reason wasn’t these comments. It was a technical reason after the previous high at 1.2380-90 held for GBP/USD, which means that it turned from resistance into support.