With the clock ticking closer to the October 31st deadline, EU officials are mulling over calling for an emergency summit. The negotiations continue with the UK, but officials said that there is a lot to discuss.
The developments come after the initial euphoria of a Brexit deal faded. This came after a joint statement from the UK and Irish Prime Ministers. Meanwhile, PM Johnson has until October 19th to decide whether to call for another round of extension to the Brexit deadline.
GBP/USD Surges Ahead
The currency pair posted strong gains following the brief consolidation near the price level of 1.2533. The strong rebound off this level will signal further gains to the upside.
With GBPUSD breaking past the previously established highs of 1.2668, we expect to see further gains coming along. The upside target for GBPUSD is at 1.2895.
