GBP/USD: Sterling traded within a cent’s range against the dollar on Friday, pinned near the $1.29 mark as a lack of news around ongoing Brexit trade negotiations left investors reluctant to bet big on the currency. Britain resumed talks with the European Union over a post-Brexit trade agreement this week. Fisheries and rules governing state subsidies to business are the two critical issues in the negotiations. The pound has largely ignored the on-going Brexit talks, with some analysts saying that even if a Brexit deal were confirmed, it would be unlikely that sterling would benefit handsomely. By 1530 GMT, sterling was up 0.1% against the dollar at $1.2941. Immediate resistance can be seen at 1.2983 (38.2%fib), an upside break can trigger rise towards 1.3019 (9DMA).On the downside, immediate support is seen at 1.2925 (50%fib), a break below could take the pair towards 1.2869 (61.8%fib).
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