The Pound is still being controlled by bears. Overview for 29.01.2020
GBPUSD continues falling deeper and deeper on Wednesday afternoon.
The British Pound remains weak against the USD. The current quote for the instrument is 1.3011.
The statistics from the United Kingdom published yesterday showed that the CBI Realized Sales remained at 0 points in January against the expected reading of 5 points. The reading didn’t make investors happy: everything that is below zero indicates decline, but zero is a pretty negative thing as well because it means that the sector has problems.
“Guardian” has reported recently that early in the spring the United Kingdom and the European Union might start talks on further cooperation after the Brexit. According to the media, the date is March 3rd.
It’s very important for both parties to start discussing the trade agreement and other issues, such as a single European market and the customs union without wasting time. The existing regulations are effective throughout this year. Earlier, it was reported that these talks may last as long as until the end of 2022. One of the EU representatives said that there were risks of breach between two parties. If it does happen, it will be a major problem for both parties. However, it’s rather unclear who will suffer more, London or Brussels.