GBP Ticks Higher on Brexit Optimism

Posted on 25th November 2019

With the election looming, optimism is slowly creeping back into the UK economy. Are we speaking too soon? Probably. However, with the new election coming, and the end of the monster we know as Brexit in sight, Investors are looking at the UK in a more positive light with spoke to create a much-needed bull run, for what is technically an undervalued pound. But how undervalued is it?

Talk of pre-2016 highs is on the cards, with some investors targeting 1.50 on GBPUSD. While this is possible, I'm sure there will be no end of twists and turns along the way. Long term I believe the pound is bullish from a technical perspective, and while I don't believe a no-deal Brexit could happen, it's not something you could write off. If we were to leave without a deal, I believe we could see massive lows from the pound, however, I believe this option is very unlikely.

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