- GBP/USD continues to edge lower as the EU-UK trade deal talks keep going.
- No progress is expected before the US elections on Tuesday so GBP/USD could still move lower.
GBP/USD SLIDES LOWER
GBP/USD’s recent selloff continues and could be extended although support can be seen at 1.30.
Any signs of progress – or the lack of it – in the EU – UK talks on their relationship post the Brexit transition period could prompt the next move in the Pound. Optimism remains that at least a bare bones deal can be reached eventually. However, nothing is expected before next Tuesday’s US elections.
GBP/USD could be buffeted by increasing covid cases in the US and Europe, in addition to the absence of an agreement over a US stimulus package. That said, House Speaker Nancy Pelosi says she remains hopeful.