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Geopolitical tensions between the EU and the UK

Geopolitical tensions between the EU and the UK | 16 October 2020

16 October 2020, EUR/USD

EURUSD trading plan:

European Union leaders said agreeing a "fair" new partnership with Britain was "worth every effort" but that the bloc would not compromise at any cost and was ready for an abrupt split in trade worth a trillion euros every year. Britain left the EU in January and the estranged allies have since been locked in complex negotiations to try and keep trading without tariffs or quotas from 2021. "We want a deal, but obviously not at any price. It has to be a fair agreement that serves the interests of both sides. This is worth every effort," said German Chancellor Angela Merkel. Geopolitical tensions between the European Union and the UK have a negative impact on the value of the European currency.

Trading recommendation: range 1.1655 -1.1740.

David Johnson
Analyst of «FreshForex» company
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