The British maintains a strong position

The British pound maintains a strong position against the US dollar in the course of Thursday trading, receiving support from the positive Brexit news. The EU and Britain reached some compromise on the financial issue, according to which the amount of payments will be from 45 billion to 55 billion pounds. See “Analysis of the American Trading Session.”

It is worth noting that the issue of a tight border with Ireland still remains open, the solution of which will allow to move to free trade negotiations during the transitional period. On Monday, Teresa May will meet with European Commission President Jean-Claude Juncker. During the meeting it is expected that the Prime Minister of Great Britain will submit his proposal on the Irish border. In the event that the EU accepts the British proposal, negotiations on trade relations may begin on December 14.

Technical Analysis: Despite some decline, which was caused by partial profit-taking by investors, the GBP/USD pair keeps rising dynamics. The main support levels are 1.3350, 1.3300. The resistance levels are considered at 1.3460, 1.3500.

Fig. GBP/USD, current price – 1.3395

Alexander Sivtsov