Forex Daily Analysis: December 08, 2020

The daily forex analysis of December 08, 2020 will discuss the Pound Sterling currency which weakened against the US Dollar quite sharply in Monday's trading. This weakness occurred as a result of pessimistic signals about a no-deal Brexit after pessimistic comments from British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen. Talks between the UK and the EU took place in Brussels, but the two sides are still hampered by agreement on 3 issues: fisheries, competition rules, and governance of a potential deal. They have been stuck in these three areas since the beginning of the summer. Britain will leave the European Union in January, but agreed to follow EU trade rules until the end of the year, allowing the two sides to make an agreement on new trade rules. Until now, the negotiations have dragged on for months and towards the end of the transition period, there are concerns that the negotiations could fail without an agreement. Simon Coveney, Ireland's foreign secretary, told the Irish Times last Sunday that he would not be surprised if the talks failed.

Forex Daily Analysis Predictions

Today's FOREX prediction on the GBPUSD pair is expected to continue its weakness/decline, and the recommended OP (Open Position) is SELL at the level of 1.33400. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points. This the daily analysis of forex on December 08, 2020. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.