The new British government led by PM Boris Johnson is “turbo-charging” its preparations for leaving the European Union without a deal. Johnson has set up three high-level ministerial committees to prepare for a cliff-edge Brexit. Moreover, senior minister Michael Gove – who leads one of these committees – has said that a hard exit is a “very real prospect.” Foreign minister Dominic Raab has said that the EU must change and Brussels answered with anger. The new PM’s moves are now being taken seriously. Markets have initially dismissed Johnson’s appointments of hard-Brexiteers and statements as preparations for early elections. Now they are hitting the panic button – at least when it comes to Sterling. GBP/USD is trading below 1.2300 – at the lowest levels since March 2017. Support is seen at 1.2225, 1.2110, and 1.2000 – all levels that were last seen in 2017. The previous 2019 low of 1.2380 is the initial line of resistance, followed by 1.2440. — more to come FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD probes daily highs near 1.1110 FX Street 4 years The new British government led by PM Boris Johnson is "turbo-charging" its preparations for leaving the European Union without a deal. Johnson has set up three high-level ministerial committees to prepare for a cliff-edge Brexit. Moreover, senior minister Michael Gove - who leads one of these committees - has said that a hard exit is a "very real prospect." Foreign minister Dominic Raab has said that the EU must change and Brussels answered with anger. The new PM's moves are now being taken seriously. Markets have initially dismissed Johnson's appointments of hard-Brexiteers and statements as preparations for early elections. Now… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
