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GBP/USD will down 5% on No-deal Brexit: Bloomberg poll




GBP/USD will down 5% on No-deal Brexit: Bloomberg poll

  • Update Time : Tuesday, November 17, 2020
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GBP/USD: Weekly Technical Analysis | 23rd - 27th November, 2020
GBP/USD: Weekly Technical Analysis | 23rd - 27th November, 2020

MarketDeal24.Com – The pound could depreciate 5% against the US dollar if the United Kingdom and the European Union failed to conclude a Brexit trade agreement. That’s according to a Bloomberg poll on Tuesday.

“The GBP/USD pair could fall to 1.25 by the middle of next year, when the economic damage caused by the epidemic is fully revealed,” they said.

If all goes well, there will be an agreement between the two sides, where experts believe there is still an 70% chance of any kind of agreement. If the deal goes through, the pair could rise another 2.5% to the $1.35 level, which has not been seen since 2019.

According to Bloomberg’s pricing model, the price of the pair can change by 25% in a year and go above $1.40 or below $1.26.

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