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 |
| Order | Sell |
| Buy stop | Below 1.2981 |
| Stop loss | Above 1.3481 |
Market Analysis provided by IFCMarkets.com
By JustMarkets By the end of the day, the Dow Jones Index (US30) rose by…
By RoboForex Analytical Department EUR/USD fell on Friday to its lowest level since 31 March…
By Conor Harrison, University of South Carolina A corporate merger that would form the largest…
By RoboForex Analytical Department GBPUSD is attempting to stabilise near 1.3317 on Thursday morning. The…
By JustMarkets The US stock market closed in negative territory, reacting to the results of…
By Sanya Carley, University of Pennsylvania; Alexandra Klass, University of Michigan; Alison L. Knasin, University…
This website uses cookies.