Geopolitical tensions | 26 June 2020

GBPUSD trading plan:

Geopolitical tensions between the UK and the European Union are forcing investors to sell the pound. Britain will reject any European Union proposal which gives the bloc the right to respond with tariffs to changes in British law following Brexit, chief negotiator David Frost said. Britain and the EU have intensified talks on a trade deal that would replace ties severed by Brexit but with only a few months until a deal must be reached, the sides remain far apart. A transition period, during which Britain remains in the EU single market and customs union, expires at the end of the year.

Trading recommendation: Sell 1.2437 and take profit 1.2404.