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October, 21 - pound is down on Brexit deal being rejected

 

And the story goes on. Just when we thought that pound might be behind us already, we see that it is in fact very far from us. Why? Well, as I said last week when Johnson announced that Brexit deal was reached, there was going to be a vote. And MPs were supposed to vote for the new deal or against it. But we all know, that MPs have a very long history of disliking the deal, brought to them by the Prime Ministers and Johnson, despite all his confidence didn’t become an exception from this rule. If anything, he confirmed it.

So, what is next for us and pound?

 

gbpusd 21.10.2019

 

Well, now we have to adjust to the thought that pound is far away from recovery and we are far away from Brexit deal. And GBP trader understand this perfectly – that is the reason for pound tumbling lower and lower right now.

 

Brexit is now going to happen in the beginning of 2021, if ever. It is now very doubtful that any of the Prime Ministers is going to be able to reach the deal and satisfy both – European Union and the MPs. But, that is for history to show us.

 

You can see the volatility of the couple for today. It is better to use trading signals when going in.

 

 

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