No-deal Brexit risk bearish for GBPUSD
United Kingdom is far from reaching a trade deal with the European Union, moreover the UK government has announced it will publish today a proposal for domestic legislation that revokes the “political declaration” on international obligations with respect to Norther Ireland border signed with the EU a year ago. The EU accounts for nearly 50% of UK’s foreign trade. The uncertainty about a trade deal with EU weighs on British Pound. UK Prime Minister Boris Johnson threatened to abandon the talks if no deal is struck by October 15. The downside risk of the prospect of no deal with the EU clearly outweigh recent positive UK reports such as better than expected nationwide housing prices rebound in August, as well as accelerating expansion in private sector activities as evidenced by better than expected Composite PMI report by Markit.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 1.2981 |
| Stop loss | Above 1.3481 |
Market Analysis provided by IFCMarkets.com
- Investors welcome tariff reliefs. Demand for safe assets is decreasing Apr 15, 2025
- CN50 waits on key China data Apr 15, 2025
- Gold Prices Remain Elevated Amid Concerns Over Trump’s Tariffs Apr 15, 2025
- Trump announces exemption of key tech goods from imposed tariffs Apr 14, 2025
- COT Metals Charts: Speculator Bets led lower by Gold, Platinum & Silver Apr 13, 2025
- COT Bonds Charts: Speculator Bets led by SOFR-3M, Fed Funds & Ultra Treasury Bonds Apr 13, 2025
- COT Soft Commodities Charts: Speculator Bets led by Soybean Oil & Wheat Apr 13, 2025
- COT Stock Market Charts: Speculator Bets led higher by Nasdaq, Russell & DowJones Apr 13, 2025
- The US stocks are back to selling off. The US raised tariffs on China to 145% Apr 11, 2025
- EUR/USD Hits Three-Year High as the US Dollar Suffers Heavy Losses Apr 11, 2025
