The British pound is starting to consolidate around the best levels of the year against the US dollar, following the news that the final deadline for a Brexit deal is this Sunday. Technical analysis shows that the GBPUSD pair could rally towards the 1.4000 resistance area if a Brexit deal is agreed. To the downside, a no-deal Brexit could see the GBPUSD move significantly lower, placing the 1.2500 level as a possible target.
If the GBPUSD pair trades above the 1.3470 level, key resistance is found at the 1.3770 and 1.4000 levels.
The GBPUSD pair is only bearish while trading below the 1.3470 level, key support is found at the 1.3000 and 1.2500 levels.
