Pound surges as UK elections exit polls

13 December, 2019

GBPUSD has gained over two percent to breach 1.35, reaching its highest level since May 2018, as the UK election’s exit polls show the Conservatives winning a clear majority. The Pound is also currently at its strongest level versus the Euro since June 2016, with Sterling also gaining against all other G10 currencies. If the official results indeed prove as much over the coming hours, a Conservative majority would pave the way for Boris Johnson’s Brexit deal to be approved in parliament by end-January 2020, while alleviating concerns over the UK's economic outlook.

However, once the initial euphoria settles, investors are then likely to turn their attentions to the transition period that the UK needs in order to formulate its future relationship with its largest trading partner, the European Union. That could make for another bumpy ride for the Pound in 2020. At least Sterling bulls can enjoy their time in the sun now, while knowing that the support level for GBPUSD has been raised significantly, given that the UK election risk has passed.


Source   Presented by FXTM
Sterling boosted by suspected Brexit delay15 Oct, 2020  

GBP is the strongest performer on the day and now flat on the week versus the mighty Dollar following reports that the UK is ready to extend EU...

Sterling in the cross-hairs again14 Oct, 2020  

The Pound was under pressure earlier and was showing about a 0.5% decline on the day against the Dollar and Yen, and about a 0.4% decline versus the Euro...

GBPUSD Daily: Bulls are entering the arena12 Oct, 2020  

The bears had a firm grip on the GBPUSD currency pair on the D1 time-frame, and that have brought on a prolonged downtrend that lasted for more than...


GBP may strengthen strongly8 Oct, 2020  

Let me remind you that last week negotiations on a trade deal between the EU and Britain reached a critical level and a lawsuit from EU. But a number of experts...

Brexit strongly influences the British Pound5 Oct, 2020  

Brexit, coronavirus and the upcoming US presidential elections remain the main drivers in the market. At the same time, last week the markets reacted most strongly...

Brexit headlines driving the markets2 Oct, 2020  

The UK currency took a sharp rotation lower on Brexit related developments. Weighing were reports that the EU and UK are struggling on key issues in trade negotiations...


Brexit and financial incentives in the US29 Sep, 2020  

Already today Britain and the EU will resume negotiations and judging by the mood of traders, there are more and more optimists. It is too early to speak about the ability...

Brexit continues to put pressure on GBP15 Sep, 2020  

I will start today's review with one of the key news, especially given the lack of publication of important macroeconomic reports from Europe and the CE...

No-deal Brexit fears pushed EURGBP to extremes11 Sep, 2020  

While GBPUSD may not be heavily hindered up to levels around 1.2000 by the end of September, the EURGBP risks losing its growth momentum and turning...