Let’s have a look at the economic calendar.
GBP/USD: forecast for Oct. 16-20
There was a report in Germany’s newspaper that the European Union could offer Britain a 2-year transitional Brexit deal if London agreed to settle its financial obligations with the bloc. The pound will remain sensitive to Brexit-related headlines, which will come from the EU summit next week. Trading will likely remain volatile. For the pound to be able to remain at the current levels, more certainty about Brexit deal is necessary.