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Pound Sterling has found a new ‘glass ceiling’ above which it is unlikely to rise without a new catalyst say a number of foreign exchange analysts we have heard from on a day that has seen the currency fall back from recent multi-month highs against the Euro and a host of other major currencies.

The British Pound is adding to its recent gains against the Euro and U.S. Dollar in the mid-week session, as financial markets maintain the view that a 'no deal' Brexit outcome is unlikely and that Prime Minister Theresa May's Brexit deal is seeing improved chances of being voted through parliament in mid-March.

Pound Sterling has pushed higher towards the top of a medium-term range against the Euro on news flow that suggests the likelihood of a 'no deal' Brexit is becoming increasingly remote.

Pound Sterling is consolidating against the Euro with the Pound-to-Euro exchange rate quoted at 1.1520 at the start of the new week, if we look at the below chart we can see the pair has been more-or-less unchanged for four consecutive days of trading now.

The British Pound is the best performing major currency of the past week having recorded advances against the likes of the Euro and Dollar on the back of cementing expectations that a 'no deal' Brexit will be avoided on March 29.

The British Pound is trading above 1.15 against the Euro and 1.30 against the Dollar on Thursday, February 22 with markets taking stock of the latest high-level Brexit meeting held between the EU and UK overnight.

A series of rumours that point to progress in Brexit negotiations appear to have triggered a strong rally in the British Pound over the course of the past 24 hours.

Negotiations between the UK and EU on the Brexit deal will be reopened following a meeting between European Commission President Jean-Claude Juncker and UK Prime Minister Theresa May.

Prime Minister Theresa May meets Northern Irish political parties today before moving on to Brussels on Thursday for a series of meetings, most notably with European Commission President Jean-Claude Juncker.

For the Pound, focus will remain primarily on Brexit developments as Prime Minister May heads to Belfast, while the release of Service PMI data in mid-morning could cause some short-term gyrations in the market.

The U.S. Dollar caught a bid late in the final session of the week even after January's labour market report delivered a surprise fall in wage growth, an increase in unemployment and a downgrade to earlier jobs growth numbers.

The British Pound's strong start to 2019 might have reached a zenith with developments in parliament on the night of Tuesday, January 30 indicating that the market will have to remain wary of a 'no deal' Brexit occurring on March 29 and adopt a wait-and-see approach over coming days before pushing the Pound higher or lower.

Prime Minister Theresa May has on Tuesday told the UK parliament she will head back to Europe and ask that the Brexit Withdrawal Agreement struck with EU partners be reopened with the view to reworking the Northern Ireland backstop.

The British Pound was seen trading softer against major rivals on Tuesday, January 29 ahead of a number of key votes scheduled to take place in the UK parliament that could determine the nature of the UK's eventual exit from the European Union.

The British Pound is seen trading near multi-week highs against the U.S. Dollar, Euro and a number of other major currencies at the start of what promises to be another week packed with political intrigue.

The British Pound has pushed to new 2019 highs as markets continue to price in an expectation that Brexit will be delayed beyond March 29, a delay Prime Minister Theresa May is reportedly recognising as likely.

Pound Sterling has hit fresh two-month highs against the U.S. Dollar and Euro in the mid-week session as one of 2019's favourite trade shows it has the legs to run a little further.

Pound Sterling trades towards the top end of a multi-week range against the Dollar and Euro thanks to a combination of positive technical momentum and developments that suggest a 'no deal' Brexit will be avoided on March 29.

Prime Minister Theresa May will today reveal to parliament the shape of the government's "Plan B" Brexit deal with the hope that lawmakers will unite behind the proposed changes, an outcome that would ultimately be welcomed by markets and a British Pound that is craving certainty.

Bank of America Merrill Lynch Global Research have released new analysis that suggests Eurozone GDP could fall sharply in the event of a 'no deal' Brexit transpiring on March 29.