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Brexit Briefing: Trump Backs Brexit at NATO Meeting in UK

Brexit Briefing: Trump Backs Brexit at NATO Meeting in UK

Martin Essex, MSTA, Analyst

GBP price, Brexit news and analysis:

  • US President Donald Trump, in the UK for a meeting of the NATO defense organization, has again backed Brexit while staying clear of UK politics.
  • GBP/USD has broken above resistance at 1.30.

GBP jumps; Trump supports Brexit

US President Donald Trump, who is in the UK for a 70th anniversary meeting of the NATO defense alliance, has again voiced his support for Brexit. Speaking on a three-day visit, Trump said he would stay out of the UK General Election but that he is a fan of Brexit and thinks UK Prime Minister Boris Johnson is very capable” and will do a good job.

His comments came as a row over the funding of the UK’s National Health Service rumbles on, with the main opposition Labour Party still arguing that post-Brexit talks with the US on a new trade deal could see the UK forced to accept US corporations gaining access to elements of the NHS or pushing up drug prices.

In the meantime, GBP/USD has finally broken above the 1.30 round-number resistance level, although that appears unrelated to the General Election or Brexit.

GBP/USD Price Chart, Hourly Timeframe (November 27 - December 4, 2019)

Latest GBPUSD price chart.

Chart by IG (You can click on it for a larger image)

Brexit Glossary - Brexit Jargon and Terms Explained

GBP/USD has not topped 1.30 since May this year and Sterling also climbed to a seven-month high against the Euro, with EUR/USD challenging support at 0.85.

Brexit Timeline – The Path Ahead

We look at Sterling regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at or on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.