GBP/USD Makes A Quick 100 Pip Bearish Reversal on No Brexit Deal Comments
GBP/USD has lost around 100 pips after BoJo's no deal Brexit comment
The GBP has been very volatile recently, as comments about Brexit keep coming from every direction. When comments lean towards the positive side, such as postponing negotiations further, the GBP rallies, and when comments are negative, the GBP tumbles lower, such as earlier today, when we heard the UK Prime Minister’s BoJo say that they should prepare for a no-deal Brexit.
Boris Johnson Comments on Brexit
- I have concluded that we should get ready for a no-deal Brexit
- The latest EU summit suggests that a Canada-style deal won’t work
- The EU has refused to negotiate seriously, we should get ready for no-deal in January
- It is clear from the EU summit, that we will not be offered same terms as Canada
- I have concluded that we should get ready for an Australia-style deal i.e. no-deal
Reuters reported on the headlines, and this was a bit of a surprise outcome, all things considered. That said, there are still ten more weeks before the actual deadline, and Johnson could very well be posturing here to get the EU to move their red lines. The GBP turned bearish immediately and the GBP/USD declined around 10o pips, from 1.2960 to 1.2860, due to the headlines.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals