After a long shoot up due to the good news stated that 31th Oct will be the official date to leave the EU, but all is left in dust where the date is further push out to Jan 2020. Same old news since the day with Theresa May. Boris Johnson’s latest attempt to trigger an early general election was defeated in Parliament on Monday and he immediately said he will try again. Earlier he had accepted the European Union’s offer of a three-month Brexit delay to Jan. 31.
So any negative news will bring Pound downward and we expect more negative pressure is coming ahead. GBP trade will be more news driven than technical driven. My bias on GBP is to head south.
So any negative news will bring Pound downward and we expect more negative pressure is coming ahead. GBP trade will be more news driven than technical driven. My bias on GBP is to head south.