As it was expected, the GBP/USD surged during the last 24-hours. However, the surge was a lot bigger than expected. The reason was another fundamental Brexit announcement.
Namely, Theresa May moved a motion in UK’s parliament to delay the Brexit in an effort to delay a no-deal scenario.
By the middle of Wednesday’s trading from a technical perspective the pair had consolidated its previous gains and resumed a surge after finding support in the weekly R2 at the 1.3238 level. This surge could reach as high as 1.3325, where another trend line is located at.
Although, take into account that trend lines don’t hold for long in the current environment
