News & Analysis

Brexit News Summarised!

November 16, 2018

By Deepta Bolaky


Monday: Sterling pairs gapped lower following the weekend Brexit headlines. Jo Johnson’s have resigned, and there were hints that more ministers are ready to resign. Traders were awaiting a breakthrough on the Irish border.

Tuesday: Theresa May faced a tough challenge in convincing the members of her party that her proposal will deliver Brexit and calm anxieties. The news of the EU/UK Brexit text brought a spark of relief to the markets. The renewed optimism on Brexit set the bidding tone for the BGP pairs, but markets remain wary as the Prime Minister was yet to present the draft withdrawal agreement to her Cabinet.

Wednesday: There was conflicting information regarding the no-confidence vote. However, news that Theresa May has the backing of her Cabinet helped the Pound to stay afloat on many Brexit headlines.

Source: GO MT4 (GBPUSD-Hourly Chart)Thursday: The resignations of top Ministers triggered a sharp reversal in Sterling pairs as those ministers reject the draft deal. The UK is submerged by political turmoil, and the Prime Minister might face a No-Confidence vote.

Friday: The markets await fresh headlines!


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