Brexit news of a deal in principal at least
- UKs Gove says delighted to announce agreement in principle on all issues in the EU-UK withdrawal agreement joint committee
- UK says deal on withdrawal committee joint committee
- EU Sepcovic says agreement will ensure withdrawal agreement is fully operational as of 1 January including the protocol on Ireland/Northern Ireland
- UK says will withdrawal clauses 44, 45 and 47 of the UK internal market bill not introduce any similar provisions in the taxation bill
The withdrawal of the 3 clauses which broke international law from its Internal Market Bill is a necessary prerequisite to the agreement of any trade deal. There is still work to be done. However, the market has pushed the GBPUSD higher on the news.
The GBPUSD has moved up to a spike high at 1.3364 so far (from 1.3389).. The 200 hour moving average remains above at 1.33749 while the 100 hour moving average is up at 1.33935. It would take moves above those levels for a more bullish bias.
Looking at the 5 minutes chart, the pair is testing a swing high ceiling from trading today ahead of the 200 and 100 hour moving averages mentioned above.
