Looking back at the ride that GBPUSD has been on throughout the year, one would say that it has been a rough one. Prices tumbled in the beginning of the year with news of the pandemic. However, ever since then it has been on the rise.
The pair is now at levels that haven’t been seen since 2018, with now the third attempt to break and settle above 1.36000 underway. Following the news of the Brexit deal negotiations over the past two weeks, the pair witnessed two large gaps forming. With both the UK and the EU now settling on an agreement, the pair may finally find some stability.
As the pair trades around the key level, it will set the tune for what’s to come in 2021. The pair continues to struggle at the level, but post-New Years market openings may help prop it up further with higher liquidity in the markets.