Even though the initial shock has already passed we still see the influence that the election of Boris Johnson on the post of the Prime Minister of Great Britain has on pound. And I have to say – it is not good.

The slide that the British currency is experiencing at the moment is very strong and yesterday was the worst day for pound in 8 months with it sliding by 1.3 percent against the greenback. All because we understand that it is inevitable now – Brexit is going to happen and the fact that no-deal Brexit is more likely than any other kind is even scarier than the process itself. And that of course means that pound is going to get hit like never before.

We are waiting for at least some information other than the 31 October, 2019 becoming the last day that the GB is going to be a part of the united Europe. But the thing is that no one really knows what to expect and what to do except to send the British currency into further selloff and be done with it. But this is really a short-term solution for the currency as it indicates no actions which are going to help it recover and be fruitful in the future.

Johnson has a very important business right in front of him and it is likely that we are going to learn something about the resolution of the situation fairly soon.

But until we hear at least something about it we need to be very careful and use trading signals.