Early in February, GBPUSD is slightly correcting, but the Pound is quite safe.
Despite a slight correction, the British Pound is looking pretty stable against the USD on Monday morning. The current quote for the instrument is 1.3160.
So, the Brexit final took place. At 11 PM, January 31st, the United Kingdom did make a move that was preceded by more than three years of painful political battles of different kinds. Now, the country will have a one-year transition period, during which the UK will have to agree on trade relations with its European partners. There will be tons of work here, which is probably much more important than ever.
The fact that the Bank of England didn’t change its monetary policy last week and decided to adhere to its conservative approach (keeping a close and monitoring the situation before making any hasty decisions) is surely positive for the Pound. It means that there are risks, but not more than the country’s economy can’t handle.
This week, there will be no significant numbers from the United Kingdom. Market players are still focused on the Chinese coronavirus and the overall attitude to risks. At the same time, investors would love to find any insider information on what is happening inside the Brexit and in the early going it may put some emotional pressure on the Pound.
Orgin: RoboForex
