Bears finally regained their momentum once again, and this time, it comes in a crucial time as the pound gets weighed on by Brexit concerns. This should lead the pair lower towards its support levels soon, forcing the 50-day moving average to slide and get closer to the 200-day moving average. Moreover, huge companies and corporations in the United Kingdom are warning that a hard Brexit could make the economic slump even deeper and cause the unemployment rate to jump unprecedentedly. The British government has reached a point of no return and companies are saying that it’s a huge gamble. BPM Johnson and his team only have less than six months to clinch a trade deal with the European Union, and this concerns a lot of investors, causing the sterling to falter in sessions. If a no-deal Brexit would be the case, companies would struggle to hold on to their workers, adding pressure to them as their still recovering from the pandemic.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.