GBP/USD keeps pushing higher on Brexit relief, ignores Lidington comments

• EU's Chief Brexit Negotiator Barnier to offer a trade deal.
• UK Cabinet Secretary, David Lidington, said that a no-deal Brexit is the only alternative to Chequers´ plan.

The Sterling Pound keeps advancing in thin Asian trading, up against the greenback to 1.3032 at the time of writing. The UK currency is being underpinned by a sudden change of sentiment about a no-deal Brexit, following comments from EU's Chief Negotiator Michel  Barnier, who stated that they are close to offering the UK a deal, "such as has never been with any other third country." He also clarified that the UK remaining into the single market "is not negotiable."   No details about the deal were out.

In the meantime, UK Cabinet Secretary, David Lidington, said that a no-deal Brexit is the only alternative to Theresa May’s proposal for a partial membership of the single market. He added that there is no time for new proposals from Barnier.

According to Valeria Bednarik, FXStreet.com chief analyst, the pair could continue advancing, as she notes " The 4 hours chart for the pair shows that it has broken through the 200 EMA for the first time in more than two months with a strong volume candle, usually a sign of further gains ahead. In the same chart, the price is now well above a bullish 20 SMA, which converges with the 61.8% retracement of the 2016/2018 bullish run at around 1.2890, while technical indicators are trying to stabilize in overbought readings. The pair has now a strong resistance at around 1.3045 where it met sellers on August 3, with gains beyond the level favoring an extension up to the 1.3080/90 region."