GBP and the UK PM: anyone in the room?

GBP and the UK PM: anyone in the room?

2020-11-13 • Updated

Let’s just sort out what’s happening in the UK.

With Brexit - almost nothing. Just another week passed – the one that was supposed to be decisive. Fisheries, the level playing field, and accord enforcement – none of those key sectors of negotiation saw any progress.

With Boris Johnson – really not sure. Hopefully, he is doing fine, because in two days, two of his key allies left him: Lee Cain on Wednesday, after rejecting the position of chief of staff, and Dominic Cummings on Thursday, although he will stay in until the end of the year. Observers are trying to speculate on the reason, interconnection, and Brexit implications of those events, but one thing is for sure: it will be harder for Boris Johnson to assert his power without those people.

With the GBP – so far, it’s doing fine. Strategically, it hasn’t stepped away from strengthening against the EUR. Tactically, it lost some value, possibly on those two resignations, driving EUR/GBP up to 0.90. It’s already in a downward retrace though, so the GBP is pressing on the EUR again.

We are used to saying “the next week will be decisive” but if there is something that Brexit taught us – it’s that what was announced as deadlines initially, easily converts into just another time-checkpoint for fruitless negotiations. Watch the GBP though – it’s resilience is not limitless.  

5.png

                                                                                                     LOG IN

Similar

Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!

Gold Holding Well Above 1775
Gold Holding Well Above 1775

Gold Daily Chart Throughout last week’s trading, gold traded within a tight range, but it also managed to hold well above its 1775 support area until the end of the week, while the technical indicators has improved over the past few days, including…

Latest news

Walmart earnings outlook
Walmart earnings outlook

Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera