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GBP/USD - The Next Leg Lower on Negative Brexit Headlines

GBP/USD - The Next Leg Lower on Negative Brexit Headlines

Nick Cawley, Strategist

Brexit Outlook and Sterling (GBP/USD) Price, Analysis and Chart:

  • A deal is looking increasingly unlikely
  • Sterling down across the board
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The latest round of negative EU/UK trade talks rumors has pushed Sterling lower and back to around 1.3250 against the US dollar. According to a Bloomberg report, sources with knowledge of last night’s discussions say that it may be impossible to reconcile the two sides’ differences and that a no-deal Brexit is the likely outcome. This is only one of many reports and as always caution should be used when looking at sources reports.

British Pound (GBP) Latest: GBP/USD Under Pressure as Brexit Endgame Nears

Sterling has been weak all morning and has taken another leg lower going into the US open. Sterling is down by nearly 0.8% against the Euro at 0.9100, down by 1% against the Canadian dollar (1.6960) and the New Zealand dollar (1.8855), and is around 0.65% lower against Sterling at 1.3270.

GBP/USD 5-Minute Price Chart (December 10, 2020)

GBP/USD - The Next Leg Lower on Negative Brexit Headlines

Do you want to discover what kind of Forex Trader you are? Take the interactive DNA FA Quiz

What is your view on Sterling – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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

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