Barclays’ share price has risen by over 2.66% as traders remain optimistic about a potential Brexit deal between the UK and the European Union. The stock is currently trading at 145p, making it the fourth-best performer in the FTSE 100, alongside top performers like Lloyds Bank, IAG, and NatWest Bank.

Recent reports from the Financial Times suggest that the UK and the EU are moving closer to an agreement on fisheries, which could lead to compromises on other key issues ahead of the December 31st deadline.

Why this matters: A Brexit deal would be positive for Barclays for several reasons. First, it would help prevent significant job losses and a sharp recession in the UK. It would also protect the British pound from a steep decline, which many analysts have predicted.

Second, a deal would likely reduce the need for further intervention by the Bank of England (BOE), such as implementing negative interest rates. These rates would hurt the margins of Barclays’ consumer lending business.

Third, a Brexit agreement would boost business activity in the UK, benefiting many companies, including Barclays.

Additionally, Barclays’ shares are rising due to strong UK economic data. The economy grew by 16% in the third quarter, leading to an annual contraction of 8.6%. These figures were better than analysts’ expectations of a 15.5% growth and a 9.6% contraction.

What’s next for Barclays’ share price: The daily chart shows that Barclays’ share price has been trading within a tight range in recent days, fluctuating between support at 133p and resistance at 152p. The stock is also hovering around the 61.8% Fibonacci retracement level.

In the near term, Barclays’ stock is likely to remain within this range. A break above 152p could signal further gains, while a move below 133p would indicate a potential decline.