A Brexit deal is looking more likely to happen, with this said it is likely the pound will appreciate. However, with the elections in mind we might see a different spin on the dollar and all this risk in mind, I say it's not safe to place bets yet. Moreover, both economies have seemed to have bounced from its lows but not to where previous levels were prior to the pandemic. It's quite obvious that certain news events move this market especially relating to Brexit.
On the technical front, the pair is moving between 1.3000 & 1.2750 area on the daily. Prices have touched 1.30 resistance a few times which makes it a significant level of interest. I will look to go long if price breaks above this provided that other technicals confirm this. The Bollinger bands are contracting which means there is low volatility, however it might mean a trend reversal may come in the following weeks. However, this could also mean the market may continue its bearish trend. It all depends on where Brexit will end up (Big moves), who will be president and the upcoming NFP.
On the technical front, the pair is moving between 1.3000 & 1.2750 area on the daily. Prices have touched 1.30 resistance a few times which makes it a significant level of interest. I will look to go long if price breaks above this provided that other technicals confirm this. The Bollinger bands are contracting which means there is low volatility, however it might mean a trend reversal may come in the following weeks. However, this could also mean the market may continue its bearish trend. It all depends on where Brexit will end up (Big moves), who will be president and the upcoming NFP.