Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Brexit Latest: GBPUSD Drops as Cox says “Legal Risk” of New Brexit Deal is Unchanged

Brexit Latest: GBPUSD Drops as Cox says “Legal Risk” of New Brexit Deal is Unchanged

  • GBPUSD Falls to Session Lows on Legal Opinion
  • Legal Risk Unchanged


GBPUSD dropped to session lows after the legal opinion from Attorney General Cox highlighted that PM May’s latest assurances reduces the risk that the UK could be indefinitely and involuntarily be detained with the backstop. However, what is more crucial is that Cox also noted that the “legal risk” remains unchanged that the UK would have no internationally lawful way of unilaterally exiting the protocol’s arrangements. Consequently, this reduces the likelihood that PM May will get her deal through at tonight’s vote.

Following the announcement by AG Cox, DUP sources have hinted that they do not see how the party can support the deal, which in turn may see the Eurosceptic ERG follow suit.

GBPUSD CHART: 1-Minute Time Frame (Intra-day)

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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