Spokesperson for UK PM May
- Britain will never accept a customs border between Northern Ireland and the rest of the UK
- Commission's proposals do not achieve maintaining the integrity of UK which is why we have put forward our own backstop solutions for customs in Brexit talks.
The GBPUSD has been chopping after Barnier comments sent the price of the GBPUSD through technical levels.
The 100 hour MA was retested on the correction off the lows at 1.3391. The holding makes that level a risk level for shorts looking for more downside. Stay below keeps the sellers/shorts happy.
The 200 hour MA (green line at 1.3344 and the 50% at 1.33378 remain downside targets for the shorts. That area will be eyed as a level to get back below if the pair is to continue to move lower.
Remember it is Friday, with G7 and a big week next week (central bank meetings, US/N.Korea summit). So the price action can get dicey as traders position for the risk.
