J.P.Morgan GBP View: FXWW

From the FXWW Chatroom – J.P.Morgan’s trading desk thinks sterling “has fully discounted good
news on the Brexit front, meaning that markets expect Parliament will vote to
extend Article 50 in March and that a delay would not manage to add much to
sterling’s gains thus far. The recovery is still facing key-resistance barriers
at $1.3298 (September high) in GBP/USD and GBP 0.8541 (key support) in EUR/GBP,
and only decisive breaks of these barriers would confirm a higher-scale change.

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