Sterling falls with little hope left for the Brexit deal.
Sterling continues to be hammered down as the markets are now starting to factor in the quickly increasing probability that no Brexit deal will be reached toward the end of this year – leaving UK with no working trade agreement with EU to rely on – potentially jeopardising hundreds of thousands business in UK. The sterling sentiment got hurt when Prime Minister Boris Johnson said today that Britain could call an end to post-Brexit trade talks without a deal being reached. With only three weeks to go for Britain to fully complete its exit from the European Union, leaders have so far failed to narrow differences on a post-Brexit trade deal. The WTO-tariffs scenario would leave UK with a grim trading period if negotiations break down – GBP bearish scenario. Expect sellers on upward corrections.
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GBPUSD overview 08.12.2020
Sterling falls with little hope left for the Brexit deal.
Sterling continues to be hammered down as the markets are now starting to factor in the quickly increasing probability that no Brexit deal will be reached toward the end of this year – leaving UK with no working trade agreement with EU to rely on – potentially jeopardising hundreds of thousands business in UK. The sterling sentiment got hurt when Prime Minister Boris Johnson said today that Britain could call an end to post-Brexit trade talks without a deal being reached. With only three weeks to go for Britain to fully complete its exit from the European Union, leaders have so far failed to narrow differences on a post-Brexit trade deal. The WTO-tariffs scenario would leave UK with a grim trading period if negotiations break down – GBP bearish scenario.
Expect sellers on upward corrections.
Next support to watch – 1.3195
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