Breaking news: The pound is gaining as EU will examine UK proposals

The pound versus the greenback is testing the highest from October 1 as Boris Johnson said that EU will examine UK proposals objectively. Johnson said to reporters that there is no path to a deal except through replecaing the backstop. Johnson indicated also that he has given a guarantee that the UK will never conduct checks at the Irish border. It is also worth to mention that Johnson has asked in parliament for a vote on the UK proposals. Having backing for the “new deal” and going to the EU summit with that would be more powerful.

GBPUSD is testing 38.2 Fibo retracement as there is willingness to get a deal from the both sides. Source: xStation5

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