Connect with us


Traders prepare for shock UK-EU split

Brexit talks have taken a turn for the worse after the UK government broke international treaty agreements, sending the GBP crashing lower. Learn more here

Share this article:



This article was originally published by Admiral Markets

Talks between UK and EU negotiators have reached rock bottom after a series of shocking events that have stunned governments and economists all over the world. Earlier in the week, the UK government prepared an Internal Market legislation that directly goes against the commitments made in the Brexit Withdrawal Agreement and the Northern Ireland protocol.

Heres what has unfolded so far:

  • The EU was given no notice of this
  • The EU has given the UK government until the end of the month to scrap this legislation or face legal action for breaking the treaty
  • UK Prime Minister Boris Johnson held a crisis meeting on Thursday in which he rebuffed the EU’s request
  • Senior Cabinet Minister Michael Gove says he told Maros Sefcovic, the European Commission Vice President, that “we would not be withdrawing this legislation.”

The move has sent the British pound crashing lower against all other currencies with the British pound against the US dollar falling more than 5% in just a few days. Did you know that you can speculate on the price of global currencies 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!

While the eighth round of talks are still underway both Michel Barnier and David Frost, the two lead negotiators for the EU and UK respectively, have expressed that a number of challenges still remain and some are still significant.

As Boris Johnson has moved up the deadline to secure a trade deal to 15 October, there is an increasing chance the UK will not reach a trade agreement with the EU by the end of year deadline when the transition period to negotiate terms ends. This means tariffs will be triggered between the European Union – the world’s biggest single market – and the UK.

How to trade the GBPUSD with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price of GBPUSD or other instruments, 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.

GBPUSD weekly chart

Source: Admiral Markets MetaTrader 5 Web, GBPUSD, Weekly – Data range: March 30, 2014, to September 11, 2020, performed on September 11, 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 so you can test your trade 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!

Trade With A FREE Demo Trading Account


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.

us dollar

Share this article:


The Government’s Path is Unsustainable

Will we have another government shutdown? … federal spending and debt levels are out of control … Janet Yellen’s preferred health diagnostic has…

Share this article:

Continue Reading

Beware! 7 Growth Stocks Waving Massive Red Flags Right Now

While hopes for long-term returns may lure investors to growth stocks, some of these very stocks should be avoided.  Especially if they’re waving red…

Share this article:

Continue Reading

‘Higher For Longer’ Reality-Check Wrecks Bonds, Banks, & Big-Tech

‘Higher For Longer’ Reality-Check Wrecks Bonds, Banks, & Big-Tech

Despite being told – for months – that The Fed wanted to keep rates…

Share this article:

Continue Reading