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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Brexit Latest: GBP/USD Surges as Brexit Deal is Done

Brexit Latest: GBP/USD Surges as Brexit Deal is Done

Justin McQueen, Strategist

GBP/USD Analysis and Talking Points

  • GBP/USD Rallies to Fresh Highs After EU Official States that Brexit Deal is Done
  • Proceed with Caution as DUP Baulks at Deal

GBP/USD Rallies on New Brexit Deal

GBP/USD has surged to fresh highs of the day on reports that the UK and EU have managed to agree a new Brexit deal ahead of the EU summit. European Commission President Juncker said that this new deal is a fair and balanced agreement for both the EU and UK. Consequently, the focus is now on Saturday in which MPs will be voting on whether they back the new deal or not.

Proceed with Caution as DUP Baulks at Deal

In response to the news that the UK and EU have agreed a new deal, the DUP has slightly poured cold water on this optimism as they reiterated that they do not back the deal as it stands. The support of the DUP is crucial for getting the new deal passed through parliament as their support would also likely see the ERG on board, thus increasing the likelihood that Boris Johnson could get a majority.

GBP/USD Price Chart: 1-minute Timeframe (Intraday)

Brexit Latest: GBP/USD Surges as Brexit Deal is Done

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES