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Brexit Briefing: Focus on Post-Brexit US-UK Trade Deal as Trump Visits UK

Brexit Briefing: Focus on Post-Brexit US-UK Trade Deal as Trump Visits UK

Martin Essex, MSTA, Analyst

GBP price, Brexit news and analysis:

  • US President Donald Trump is visiting the UK for the 70th anniversary of the NATO defense organization.
  • Ahead of the UK General Election on December 12, that has focused attention on whether Trump would insist on US access to the UK’s National Health Service in a post-Brexit US-UK trade deal.
  • GBP/USD challenges 1.30 resistance level again.

GBP/USD challenges 1.30 as post-Brexit US-UK trade deal tops agenda

US President Donald Trump is in the UK for the 70th anniversary of the NATO defense organization, focusing attention on possible US access to the UK’s National Health Service post-Brexit.

Ahead of the UK General Election on December 12, Jeremy Corbyn, who leads the main Opposition Labour Party, has written to Trump saying there would be no deal with the US under a Labour government if the US insisted the NHS were included in post-Brexit trade talks. UK Prime Minister Boris Johnson has said the NHS is off the table.

Trump’s visit comes as Johnson attempts to make Brexit the key election issue, while Corbyn is focusing on social issues including health. It also coincides with a narrowing gap between Johnson’s Conservatives and Corbyn’s Labour in the latest election opinion polls, with ICM Research showing the Conservative lead down to 7%.

However, that has had little impact on Sterling, with GBP/USD climbing since the middle of last week to again challenge strong resistance at 1.30.

GBP/USD Price Chart, Hourly Timeframe (November 27 - December 3, 2019)

Latest GBP/USD price chart.

Chart by IG (You can click on it for a larger image)

Brexit Glossary - Brexit Jargon and Terms Explained

Johnson has said he would not welcome input from Trump in the UK election campaign and is yet to arrange a bilateral meeting with Trump although he may still meet the US president one-to-one Wednesday

Brexit Timeline – The Path Ahead

We look at Sterling regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

Resources to help you trade the forex markets:

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--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

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