Heavy trade negotiations | 04 11月 2020

04 11月 2020, GBP/USD

Heavy trade negotiations

GBPUSD trading plan:

The European Union and Britain have so far failed to reach agreement on three most persistent sticking points in talks, both sides said; suggesting any breakthrough in securing a trade deal is still a way off. After nearly two weeks of intensified talks to try to strike a deal to protect nearly a trillion dollars of trade from severe disruption, stubborn differences over fisheries, fair competition and settling disputes have yet to be overcome. Irish Foreign Minister Simon Coveney said time may run out to strike a deal. Any deal should be agreed by Nov. 15 so it can be ratified by the European Parliament before Britain's standstill transition out of the EU expires at the end of the year. This is a negative signal for the British currency.

Trading recommendation: Sell 1.3010 and take profit 1.2970

David Johnson
Analyst of «FreshForex» company
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