GBPUSD pops up a bit on the headline.
A "leading" EU lawmaker is no the wires saying:
- EU could adjust Irish border backstop to win Britain's approval in Brexit negotiations
The general feeling is no-Brexit is worse. If there is some give and take, that should be good. The price action and technicals will help tell the story.
The price of the GBPUSD moved above the 50% retracement of the move up from the August 15 low. That comes in at 1.28519. The price reached 1.2857. The price is trading above and below the 1.28519 level. A push back above the 50% level could solicit some short covering.
PS the EURUSD is also taking the news as a positive.
