The pound is losing ground. The Irish question is in focus!

The British pound has retreated from the maximum of today’s trades (at 1.3277) against the background of comments by the EU’s chief negotiator on the Brexit issue, Michel Barnier. Barnier noted that the financial issue is not the only obstacle in the negotiations, stressing the importance of the border issue with Ireland.

Today, British Prime Minister Teresa May will meet with the Cabinet’s chief ministers to discuss a draft law on exit from the EU. Since Ireland has a veto right at this stage of the negotiations, before moving to the trade issue, the Irish can demand concrete proposals from London on the border issue. Read more …

Technical analysis: The GBP/USD pair remains positive dynamics in the short term, which is a signal of a possible reversal of the medium-term downtrend (which lasts from September 20), in case of a positive outcome of the Brexit negotiations. The main support levels are 1.3175; 1.3135. The main resistance levels are 1.3280; 1.3310.

Fig. The GBP/USD graph, current price is 1.3243.

Alexander Sivtsov