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Friday, October 18, 2019

Forex Signals Brief for Oct 18

All this week, the focus in the European session has really been on Brexit and very little else.
Yesterday, word came through that UK PM Boris Johnson had successfully navigated a deal with the EU. Importantly, he has managed to do it in two weeks. Something his predecessor Theresa May couldn’t do in two years.
However, it looks like he might still have one big hurdle that he will need to overcome going forward, and that is, of course, the UK Parliament.
The inability of May to get anything through Parliament was ultimately the reason, she fell on her sword. So this is a high risk, high reward moment for both Johnson and the UK.

Naturally the GBP/USD spiked higher yesterday on the news, however, there was a significant retracement by days end.
So to close out the week all the focus will be on what happens with the UK Parliament, and the fate of the Pound will likely be at stake.
A special parliamentary session on Saturday is supposed to ratify the deal. But that will be easier said than done. 

     Posted By
GreenForexClub 


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