GBPUSD Jumps on Brexit Deal Speculation

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The British pound sterling rose more than 1% on Wednesday.

The gains were primarily driven by progress in the Brexit talks.

Price action is now trading above the 1.3000 level, which held up as resistance previously.

With the strong daily close, further gains could be likely.

The next main target for the GBPUSD will be the 1.3200 level. This price level can be tested if the current bullish momentum continues.

Alternatively, any declines to the downside could see the 1.3000 level now acting as support.

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