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Pound Sterling Q1 Fundamental Forecast: GBP Rudderless on Brexit Permutations

Pound Sterling Q1 Fundamental Forecast: GBP Rudderless on Brexit Permutations

Nick Cawley, Senior Strategist


Brexit News and Noise Continue to Steer the British Pound

The United Kingdom is scheduled to leave the European Union on March 29, 2019; and as we stand, the Brexit Withdrawal Agreement that is currently on offer from the EU to the UK will not pass through a vote in the House of Commons. If there is no agreement between the two sides – or if an extension of the Article 50 timetable has not been agreed – the UK will leave the EU with no-deal and will revert to World Trade Organization (WTO) trade rules.

If an agreement is reached, a transition period until December 2020 will be triggered where the UK can negotiate its own deals. This makes the first quarter of 2019 one of the most important three-month periods in the UK’s history. That in turns will translate into any and all action, news release or rumor having an outsized effect on Sterling.

See the complete Q1'19 British Pound forecast as wel as forecasts for the other major currencies, equitites, Gold, and Oil.

--- Written by Nick Cawley, Analyst

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.