Pound Sterling received a little boost from traders today, on account of a possible delay in UK’s exit from the custom union. Previously, the UK gov said that the country will leave EU’s customers union by 2021 (end of the transition period). Now, the UK gov may ask for more time to delay this exit.
Whether this will materialise is still questionable. But it did put some temporary floors on GBP-pairs.
For GBPJPY, the rate broke out to the upside after a period of choppy ranging. With no resistance until 152.00, there is some more near-term upside potential.
For GBPEUR, the rate is also improving, with the bulls now eyeing the 1.15 ceiling.
Jackson has over 10 years experience as a financial analyst. Previously a director of Stockcube Research as head of Investors Intelligence providing market timing advice and research to some of the world largest institutions and hedge funds.
Expertise: Global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University.