Two Major Uncertainties Encumbering GBP/USD| Influencer Forex Analysis•Jasper Lo

Among the various uncertainties in the global financial markets, Brexit negotiations and the US presidential election are the most concerned. In terms of Brexit, it is reported that the UK government will officially withdraw from negotiations with the EU if a deal isn't achieved this week. The British government has repeatedly stressed the seriousness of the statement, with a deadline of October 15 (this Thursday) set by Prime Minister Johnson. While both sides have acknowledged they are at loggerheads, Johnson indicated that the country's trading arrangements with the EU would be like Australia's if no deal was reached.

Johnson's Internal Market Bill, which has passed its third reading in the Commons, is aimed to be an incentive for the EU to make concessions. But the Bill is a violation of the Brexit agreement signed earlier. The EU thus intends to take Britain to the International Court of Justice (ICJ). With that said, I believe the impasse can hardly find a break since the UK has tried to get concessions from the EU by breaking international law, and since the EU will be determined to sue the UK for the unacceptable illegal means. The pound may see a wide drop under selling pressures once the EU takes the UK to the ICJ immediately after the British government announces its withdrawal from the negotiations this Thursday.

In terms of the US presidential election, Trump failed to chalk up sympathy votes by his speedy recovery from COVID-19. Besides, his approval ratings haven't received any upside despite Vice President Pence's average performance in the television debate against another candidate. In this case, Trump is likely to fight back with unusual tactics, which may raise the uncertainty in the market and sentiment. As a result, the US dollar will have a chance to rally bolstered by the lasting risk aversion. Conversely, the pound may be dragged down by Brexit uncertainties. In the following week, the selling of the pound may be enduring unless Johnson dramatically makes significant concessions to resolve the crisis of hard Brexit. But in my opinion, to break the deadlock is difficult because the purpose of Johnson's Internal Market Bill is to force the EU to make concessions rather than doing so himself.

[About The Author]

Since 1987, Jasper Lo has been engaged in the financial industry

(forex, futures and gold) for more than 32 years and holds forex R.O.,

securities and futures broker licenses. Mr Lo is an expert in trading

forex, precious metals and commodity futures and an basic and technical

analyst.

Over the years, Mr Lo won many individual and team sales champion

awards, as well as outstanding employee awards. He was invited, as a

guest mentor, to the University of Hong Kong, Guangdong Ocean University

and Guangzhou Jinan University. And he was also appointed as the chief

training consultant by Hantang Securities and Dongguan Securities in

China.

Mr Los experience as guest of honor invited by media including Chinese and English newspapers and columnist:

-Guest of honor invited by TVB New Channels such as Finance Channel, Forex Focus, Global Watch

-Guest of honor invited by Now Finance Channel - Forex Reports

-Guest of honor invited by i-CABLE Finance Info Channel - Forex Opportunities

-Guest of honor invited by ViuTV - Investor Smarter Group

-Columnist of Finance and Forex Market of Ming Pao

-Presenter of Finance and Forex Forecast of Ming Pao

-Presenter of Investment 36 Stratagem and Technical Analysis in 1 Min of Ming Bao Finance

-Appointed lecturer of Ming Pao Investment Seminar and Paid Course

-Author of the best seller Investment 36 Stratagem

-Columnist of Forex Expert, Forex Analyst, Marathon Weekly of ET Net

-Guest of honor of Open Good Morning of ET Net

-Guest of honor of Metro Finance Channel - Market Opening, Instant

Market Fighting, Guangdong-Hong Kong Finance, Finances Power, Market

Analysis

-Guest of honor of New Era of Investment of RTHK

-Columnist of Capital Commodities of Capital Weekly

-Guest Presenter of Wang Guanyi Online Finance Channel - Fund and Commercial Bond

-Columnist of Wealthub Finance and Investment Smart Platform of Enrich Culture

-Guest presenter of Weekly Investment in the World of Enrich Culture

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