Monday, 3 April 2017
Brexit's Official Trigger of Article 50 and EURGBP: 3 April 2017, Monday, 10.58pm Singapore Time
Brexit's Official Trigger of Article 50 and EURGBP:
3 April 2017, Monday, 10.58pm Singapore Time
Attached is the Daily Chart of EURGBP.
Selling down of EURGBP has been impulsive, rebound up weak and corrective, and the recent continuation of selling of EURGBP impulsive. This is likely to mean that the official trigger of Brexit's Article 50 will, from here on, result in the Euro being more bearish with respect to the British Pound and the British Pound more bullish with respect to the Euro.
While UK may lose jobs from a certain number of sectors, it is now able to negotiate a lot of trade deals (to its benefits) with many countries. The positives from this may very much more than outweigh the negatives from the certain loss of jobs as well as the punitive measures meted out on UK by the Eurozone bloc.