✦ British MPs have voted overwhelmingly in support of Theresa May to initiate Article 50 by officially notifying the EU of “the United Kingdom’s intention to withdraw from the EU.” While there are many more votes and debates along the way, most agree the UK will meet its deadline of March 31st to initiate Article 50.
✦ With all the anticipated market volatility surrounding Great Britain’s withdrawal for the European Union, it’s well worth preparing your position in these currency pairs: EUR/GBP, GBP/USD and GBP/JPY.
✦ The euro has spiked sharply against the Pound sterling (EUR/GBP) in reaction to last week’s events. On Monday at 08:00 GMT, the currency pair was trading at 0.864 (+0.50%). Will the uptrend continue as Brexit woes persist?
Brexit’s Major Milestones
- 31 March 2017 – Deadline to invoke Article 50
- 30 September 2018 – Deadline to finalise negotiations with EU
- May 2019 – Following ratification by all member states, Britain officially exits the EU
Losses can Exceed Deposits. Your Capital is at Risk.
Not intended to provide Trading or Investment Advice.
Want to start trading financial markets with ease and confidence?
Forex and CFD trading can fit a range of trading goals whether it’s increasing your profit potential or diversifying your portfolio. If you want to learn everything you need to know about trading Forex and CFDs, then visit our online trading academy. If you’re ready to start trading, simply sign up for a FREE trading account with 1000’s of virtual funds and start trading towards your financial success!