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GBP USD SHORT POSITION - Wealth X Network

Updated

OUTLOOK: BEARISH
BRITISH POUND GROANS ON PROLONGED BREXIT NEGOTIATIONS

Note

GBP remains suspended by political angst over the resolution of an almost five-year divorce agreement between the United Kingdom and European Union. Last week, EU chief Brexit negotiator Michel Barnier tweeted guidelines for businesses to prepare for potential cross-border friction after the December 31, 2020 deadline. In the report, it states that:

Note

There will be broad and far-reaching consequences for public administrations, businesses and citizens as of 1 January 2021, regardless of the outcome of negotiations.

Note

GBP EYES VIRUS-HIT GDP DATA

Note

Sterling traders will also be anxiously waiting for the release of preliminary Q2 UK GDP data.

Note

These figures are unlikely to show an underlying optimism.

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