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The lack of progress on a deal

The lack of progress on a deal | 19 October 2020

19 October 2020, GBP/USD

The lack of progress on a deal

GBPUSD trading plan:

"There is only any point in Michel Barnier coming to London next week if he's prepared to address all the issues on the basis of a legal text in an accelerated way, without the UK required to make all the moves or to discuss the practicalities of travel and haulage," the official spokesman for the prime minister said. EU leaders dropped their commitment to work "intensively" with the U.K. to reach a trade deal and said Britain would need to "make the necessary moves" to secure an agreement. The lack of progress on a deal and the surge in Covid-19 infections has a negative impact on the value of the British currency.

Trading recommendation: range 1.2960-1.3040.

David Johnson
Analyst of «FreshForex» company
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