- GBP / USD bounces off 21-HMA support.
- Resistance is still seen at 1.3300.
- The latest Brexit headlines suggest a deadlock still exists.
GBP / USD once again failed to break through the 1.3300 mark and quickly fell 40 pips from the session high of 1.3287 after disappointing the Brexit headlines.
There has not been a breakthrough in the Brexit negotiations. Fisheries, state aid and governance remain major issues.
GBP / USD rebounded 1.3250 21 hour moving average (HMA) support to near 1.3265 at the time of writing.
The hourly Relative Strength Index (RSI) is at 51.91, after rising, rebounding from the midline. The rebound in the RSI is an encouraging sign for the bulls.
1.3300 is the next target if the pair breaks the daily high at 1.3287. Beyond 1.3313, the high of November 11 and November 18 is on target.
A fall below 21-HMA support could open the door at 1.3241 (100 HMA).
Further south, the 200-HMA at 1.3220 is the key level.