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Trading on Monday for the pound sterling may open with a significant gap


Pound sterling quotes continue to decline as the representatives of the UK and the European Union were never able to come to an agreement that would suit both parties. According to the latest information, the negotiations will last until December 13, 2020, i.e. on Sunday we will find out on what conditions the UK is leaving the EU. In the event of a “hard Brexit”, the economy of foggy Albion will be hit, which will also affect the exchange rate of their national currency.

Therefore, when trading opens on Monday, a significant price gap may appear on the chart of the GBP / USD currency pair.

Therefore, I recommend not to leave trades for this weekend, because in this case, traders will not be able to control trading risks using stops. There may also be increased volatility during the Asian session, similar to the one we saw late last year.

The Bank of England also added negative news today, announcing that they will consider introducing negative interest rates next week.

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