According to analysts from Rabobank, the pound is likely to trade defensively in the coming months and see a chaotic no-deal Brexit sending EUR/GBP moving towards parity. Key Quotes: “New UK PM Johnson has promised an “energetic and front-footed” approach to achieving a new Brexit deal with the EU. The latter, however, has reinforced its position that the Withdrawal Agreement as negotiated with with former PM May is not up for re-negotiation. Just a few days into Johnson’s premiership, the inevitable deadlock appears to have been reached. Unless one side blinks, the result could be that the UK approaches a cliff-edge on Brexit on October 31.” The UK Parliament, however, is expected to attempt stopping the latter. A confidence vote in the PM or even a general election may not be too far away.” “For GBP investors the curse of political uncertainty thus appears relentless. The currency has been under renewed pressure since May, when it became apparent that a Brexiteer would be entering Downing Street. Consequently, EUR/GBP has breached the important 0.90 area exposing the 2017 high around 0.93. The pound is likely to trade defensively in the coming months. “Signs of an economic slowdown are likely to add to GBP woes in the coming months, although these are likely to play second fiddle to the political events. Our expectations of a modest improvement in the stance of the pound by year-end assumes that a decision on Brexit will (once again) be postponed beyond October. A chaotic no-deal Brexit would see EUR/GBP moving towards parity, however.” 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 Tezos (XTZ) latest to be supported by Coinbase FX Street 4 years According to analysts from Rabobank, the pound is likely to trade defensively in the coming months and see a chaotic no-deal Brexit sending EUR/GBP moving towards parity. Key Quotes: "New UK PM Johnson has promised an "energetic and front-footed" approach to achieving a new Brexit deal with the EU. The latter, however, has reinforced its position that the Withdrawal Agreement as negotiated with with former PM May is not up for re-negotiation. Just a few days into Johnson's premiership, the inevitable deadlock appears to have been reached. Unless one side blinks, the result could be that the UK approaches… 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.