The GBP/USD price made a bullish engulfing pattern after the latest progress on Brexit.
engulfing pattern after the latest progress on Brexit. It rose to a high of 1.2055, which was higher than this month’s low of 1.1926. The pair remains ~3.16% below the highest point in February.The UK and the European Union reached a new deal that will govern relations between Northern Ireland and the European Union. In a statement, Rishi Sunak and Ursula von der Leyen said that the deal was a decisive breakthrough.
The GBP/USD also reacted to several important economic numbers from the United States. Housing figures published on Monday showed that pending home sales rose at the fastest pace since 2020, in a sign that the sector is still resilient. It increased by 8.1%, which was higher than what analysts were expecting.
The main data to watch on Tuesday will be the latest US consumer confidence figure by the Conference Board.
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