UK prepares to walk on October 15, but EU still positive
Negotiations between European and UK officials are in crunch talks to meet UK Prime Minister Boris Johnson's 15 October deadline. Just this week, the EU called Boris Johnson's bluff to walk away from the talks knowing the fact it would be disastrous for a government already reeling to control the impact of the coronavirus. The next day, Johnson's government reiterated it will walk away if no progress has been made by that date. The battle goes on.
But while the headlines have been about the huge gulf between the two countries, some officials are optimistic. The EU's Chief Negotiator, Michel Barnier, told European ambassadors that he didn't expect the UK to walk away on 15 October. His opposite, David Frost, told British parliamentary members that negotiations have been constructive.
Some of the biggest issues are said to be close to resolved:
- State aid in the UK
- EU's access to British waters
Officials are also confident that Boris Johnson will agree to continue the principles of the European Convention on Human Rights. However, this is an issue that some hardliners in the Conservative Party have resisted and campaigned against.
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How to trade the GBPUSD with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the price of the GBPUSD, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
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Source: Admiral Markets MetaTrader 5 Web, GBPUSD, Weekly - Data range: April 27, 2014, to October 8, 2020, performed on October 8, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.
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