We welcome you to a new trading week.
Traders of the GBP/USD have been on a roller-coaster ride Friday with the pound failing to find a clear direction and trading choppily between 1.2963 and 1.2863.
The British pound was resilient to negative Brexit headlines after negotiations over a Brexit deal have stalled with Boris Johnson announcing on Friday that he will focus on preparations to leave the EU’s single market and customs union at the year-end without a trade deal. End of October/ Early November is the last likely moment a deal can be struck and implemented until year-end.
With 15 days to go until the U.S. election, polls show increasing odds of a Democratic sweep and the market thus sees increasing chances of larger economic stimulus. The upcoming election will determine main market moves and if polls suggest a too-close-to-call election volatility will rise quickly.
We wish you good trades!
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