The Pound doesn’t believe in possible Brexit complications. Overview for 21.10.2019


GBPUSD stopped rising; investors are waiting for the news from the British policymakers.

The British Pound slowed down its growth against the USD. The current quote for the instrument is 1.2900. 

Last week, the European Union and the United Kingdom agreed on the deal that might help to carry out the exiting procedure according to a “soft” scenario, which implied minimum damage to the British economy. The British Prime Minister Boris Johnson managed to persuade the European policymakers to consider the aspects that were the most important to the Brits. Everything was good, but no one could predict what would happen later. 

During its emergency meeting last Saturday, the British Parliament declined the deal, which means that policymakers might go back to discussing it today-tomorrow, but Johnson is highly likely to be forced to ask the European Union for another delay, this time until January. We remind you that the Brexit was set for October 31st, but the deal is there yet.  

It appears that Johnson tripped over the same stone the former Prime Minister Theresa May did. Earlier, he deployed a lot of efforts to bar the Parliament from making such decisions, because he thought that policymakers might cause a lot of troubles. So they did. 
Right now, market players aren’t ready yet to believe that the Brexit may fail again, but the activity in GBPUSD is already lower than earlier – investors are waiting for the news. 



Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.