GBP/USD: Sterling surged after the European Union’s Brexit negotiator, Michel Barnier, stated that he could not rule out the possibility that Britain’s EU withdrawal would be pushed back. The major traded 0.1 percent up at 1.3068, having hit a high of 1.3109 on Wednesday; it’s highest since February 1. Immediate resistance is located at 1.3103 (Feb. 4 High), a break above could take it near 1.3160 (January 31 High). On the downside, support is seen at 1.3024 (5-DMA), a break below targets 1.2996 (21-DMA). Against the euro, the pound was trading flat at 86.77 pence, having hit a high of 86.66 on Thursday, it’s highest since Jan. 29.
GBP/USD daily chart
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