Pound (GBP) will be in action till December

The GBP moved higher against the U.S Dollar on Tuesday, 07 Jul 2020. GBP made a high of 1.2591 against USD.

The upward movement in Pound was on account of the talk going on between U.K and EU regarding their preparations post Brexit.

The U.K. and EU has to discuss and find a mutually beneficial solution on a trade deal before the Brexit transition. The timeline to finalize the trade deal ends in December 2020.

Few people closely monitoring this deal are of the opinion that the threat of no-deal is growing. As the time is running out, risks of no deal, or a deal on unfavorable terms for the U.K are growing.


GBP/USD on medium term may remain under pressure and may continue to fall in year 2021 as the U.K. may require weaker currency to boost up the economy.

Weekly outlook: GBP/USD on weekly basis looks positive. It may go up to 1.2690 to 1.2730, however the break down below a level of 1.2465 would change the trend towards downward.


By Sandesh Nandode- Forex & Crypto Analyst - Dubai
Location: Dubai - United Arab Emirates

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