UK prepares to walk on October 15, but EU still positive

October 08, 2020 09:30

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.

Did you know that you can speculate on the direction of GBPUSD using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!

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:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in GBPUSD, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

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.

Did you know that you can open a free demo trading account to test your trading ideas and theories regarding the price direction of thousands of markets in a virtual trading environment? Open your free account today by clicking on the banner below and receive free access to Premium Analytic tools and more!


The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

1.This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

2.Any investment decision is made by each client alone whereas Admiral Markets UK Ltd (Admiral Markets) shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.

3.With a view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.

4.The Analysis is prepared by an independent analyst Jitan Solanki, Freelance Contributor (hereinafter "Author") based on personal estimations.

5.Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.

6.Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.

7.Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.

Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.