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Geopolitical tensions between the UK and the EU

Geopolitical tensions between the UK and the EU | 04 September 2020

04 September 2020, GBP/USD

GBPUSD trading plan:

Senior officials in British Prime Minister Boris Johnson's office see only a 30%-40% chance that there will be a Brexit trade agreement with the European Union due to an impasse over state aid rules. Britain’s desire to use state aid to build up its technology sector means that Johnson's top ministers are unwilling to budge in negotiations on state aid. The UK wants the percentage of fish quotas reserved for UK vessels in British waters to increase from some 25% now to more than 50%. Geopolitical tensions between the UK and the European Union will have a negative impact on the value of the British currency.

Trading recommendation: Sell 1.3311 and take profit 1.3270.

David Johnson
Analyst of «FreshForex» company
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