Brexit Deal within Inches
Michel Barnier has stated that a Brexit deal must be concluded tonight to have any chance of the deal being presented at the EU Summit, whilst also allowing the necessary time for a ratification through the commons.
Frequency of comments from officials, both UK and EU have markedly increased the last couple of days, raising the prospect that a deal is painstakingly close to be agreed.
Brexit has been the main driver for GBP related pairs recently and this theme is unlikely to change the next couple of weeks.
GBP Implied 1 week volatility has risen to the highest since the referendum, underlying the risk to GBP currency traders.
Implied volatility is a measurement of expectation from the Options Market surrounding sentiment. Fresh highs in this market does predict which direction GBP will be going, it does mean GBP is set for an unpredictable couple of days, and prone to swings.
Market Orders should be used in this type of market
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