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Fresh negotiations between the EU and the U.K.

Fresh negotiations between the EU and the U.K. | 08 September 2020

08 September 2020, GBP/USD

Fresh negotiations between the EU and the U.K.

GBPUSD trading plan:

Fresh negotiations between the EU and the U.K. over a potential trade deal are set to start again later Tuesday, but the U.K. lit the touch paper over the weekend by threatening to undermine the exit agreement unless free trade terms are agreed by next month. Talks have been at an impasse for months over two key issues - state aid and fisheries. Geopolitical tensions between the United Kingdom and the European Union have a negative impact on the value of the British currency. U.K.-focused equity funds saw record outflows of 1.2 billion pounds over the past three months as investors worry about a no-deal Brexit and the impact of the COVID-19 pandemic.

Trading recommendation: Sell 1.3145 and take profit 1.3100.

David Johnson
Analyst of «FreshForex» company
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