The Pound may try to recover. Overview for 15.10.2018

15.10.2018

On Monday morning, GBPUSD is trading sideways after some significant decline last week.

The British Pound is trying to recover against the USD on Monday morning. The current quote for the instrument is 1.3113.

Last week was pretty tough for the British currency. Another complicated issue of the Brexit, which hasn’t been agreed on, re-emerged: the land border with Ireland. Political negotiations were unsuccessful as both parties decided to take a break and “clear their heads” after rather intense and even violent dialog. 

Apart from this, the Pound gets additional pressure from the former Principal Secretary of State for Foreign and Commonwealth Affairs Boris Johnson, who said that the Great Britain had to resist the pressure coming from the European Union and take a real stand. Johnson’s comments were published by one of the British broadsheets. He told the media that it was the time for the UK to start resisting the European Union after two years of agreeing. It seems that Johnson was talking about changes in the British constitutional arrangement first of all.

According to bookmakers, Johnson is one of the possible successors of the current Prime Minister Theresa May. He was a front-line player of the Brexit referendum in 2016 and was in favor of the “Canadian” scenario based on the CETA (the Comprehensive Economic and Trade Agreement between Canada and the European Union).

Every time someone mentions possible complications of the Brexit, the British Pound goes down, because the major issues of the procedure still haven’t been solved.

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.