Sterling rebounds, after initial dips, on talks that UK Prime Minister Boris would continue negotiations with EU even after the self-imposed October 15 deadline. An unnamed official was quoted saying UK still believe a deal is possible with intense negotiations in the coming days.
Separately, the UK government also resisted a “circuit breaker” national lockdown. Instead, Johnson told parliament, “the advice that I have today is that if we do the regional approach … we can bring down the R (reproduction rate) and we can bring down the virus… the whole point is to seize this moment now to avoid the misery of another national lockdown.”
GBP/CHF rebounds notably after initial dips today and it’s staying in consolidation from 1.1968 temporary top. Rise from 1.1598 is still in favor to continue as long as 1.1723 minor support holds. Break of 1.1968 should pave the way to retest 1.2222 near term resistance.
