FX.co ★ GBP/USD analysis for December 03, 2020 - Watch for selling opportuntiies due to intraday overbought condiiton

Jacob Rees-Mogg says the government will reject all the amendments by the House of Lords on the Internal Market Bill

The market may not need to pay much attention to this right now, but it is something worth noting in case talks fail to reach a compromise this week or over the weekend.

Barnier had previously warned that if the UK moves forward with the threatened clauses that it will throw trade talks into "crisis mode", so yeah. But before we get to this, we may already get white smoke from London possibly in the next few days and before Monday.

Further Development

Analyzing the current trading chart of GBP/USD, I found that the buyers are in control today but that there might be the overbought condiiton.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Platinum and Lumber today and on the bottom Natural gas and Ethanol.

GBP is on topside of the list.

Key Levels:

Resistance: 1,3450

Support levels: 1,3410 and 1,3390