According to a poll of economists by Reuters, there is a higher likelihood of Brexit not happening at all than a no-deal Brexit. The EU delayed the Brexit deadline last week, giving Britain until the end of October to work out a proper exit strategy from the European Union.

Most economists polled in the monthly Reuters survey anticipate that the EU and Britain would most likely settle for a free-trade deal, but a no-deal Brexit seems the least likely option for Britain as of now.

GBP/USD is trading around the 1.30 level today, but could be impacted by the retail sales data releasing today from the UK as well as the US.