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    Home»News»British pound slides to a two-and-a-half years lown. New elections may be triggered today!
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    British pound slides to a two-and-a-half years lown. New elections may be triggered today!

    Natalia AlvarezBy Natalia AlvarezSeptember 3, 2019Updated:September 3, 2019No Comments1 Min Read
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    Boris Johnson, photo: EU2018BG Bulgarian Presidency (CC BY 2.0)

    The British pound is doing it again. The big currency is very volatile and susceptible to political news. The pound dropped under $1.20 a level not seen since October 2016, as you can see it on a 1-week SimpleFX WebTrader chart below.

    [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#df4444″]SELL GBPUSD[/button]        [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#3cc195″]BUY GBPUSD[/button]

    What was the reason?

    Of course, political. Prime Minister Boris Johnson vowed that if his party loses a decisive vote in parliament today. If the government loses the vote and is forced to delay Brexit again in case of no-deal, Johnson promised to trigger a general election on October 14.

    Here’s how the GBPUSD situation looks like on a one-hour chart.

    The members of Parliament want to delay the Brexit until January 31, if the government is unable to strike a deal by mid-October.

    Margin trading British pound cross-pairs is a must for every reactive trader who likes to capitalize on political news for an indefinite future.

    Enjoy!

    [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#df4444″]SELL GBPUSD[/button]        [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#3cc195″]BUY GBPUSD[/button]

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    Natalia Alvarez

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