Brexit Talks Suspended After a Member of EU Tested Positive for COVID
<p><span data-contrast="auto">On Thursday, Brexit negotiators suspended direct talks after a member was positive on a test for COVID-19. However, </span><span data-contrast="auto">officials are still working remotely to reach a UK-EU deal which is due in 6 weeks.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">Talks could still continue and a “comprehensive” deal be agreed in time before UK’s transition on December 31, 2020 says Finland’s European affairs minister, </span><span data-contrast="auto">Tytti</span><span data-contrast="auto"> </span><span data-contrast="auto">Tuppurainen</span><span data-contrast="auto">.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">“We are at a critical stage of the negotiations,” </span><span data-contrast="auto">Tuppurainen</span><span data-contrast="auto"> told Reuters in a phone interview. “The time pressure is huge and we all realize that time is running out … I haven’t given up faith.”</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">“We all have to do our outmost in order to reach the agreement. That’s the aim of the EU. We want to have a comprehensive, a balanced agreement with the UK.”</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">She spoke as the chief Brexit negotiators, the EU’s Michel Barnier and the UK’s David Frost, suspended direct talks after an EU team member tested positive for COVID-19.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">“The teams will continue their work in full respect of guidelines,” Barnier said on Twitter.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">A British government spokesman also said discussions would go on remotely.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">“The talks will resume in person when it is judged safe to do,” the spokesman said. No one from the UK’s team will need to self-isolate.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">Some EU member states including the Netherlands, France, Belgium, and Spain asked the executive European Commission to ready emergency plans incase of a no-deal Brexit.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">Thierry Breton, Franca’s representative in the Commission said Britain must accept fair competition rules for companies or be shut out of the EU’s single market of 450 million consumers from 2021.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">“I understand very well that our British friends wish to be able to benefit from the internal market,” Breton said. “If the British accept these rules, they will be welcome. But if they do not accept them, there will be no deal.”</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">A new EU-UK accord must be stable to give businesses investment security rather than exposing them to the risk of future renegotiation of trading terms, he said.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><b><span data-contrast="auto">Technical Outlook</span></b><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> <img class="alignnone wp-image-22174" src="https://www.learntotrade.co.uk/assets/uploads/2020/11/amdwqwld-300×158.png" alt="" width="503" height="265" srcset="https://www.learntotrade.co.uk/assets/uploads/2020/11/amdwqwld-300×158.png 300w, https://www.learntotrade.co.uk/assets/uploads/2020/11/amdwqwld-768×404.png 768w, https://www.learntotrade.co.uk/assets/uploads/2020/11/amdwqwld.png 1022w" sizes="(max-width: 503px) 100vw, 503px" /></span></p>
<p><span data-contrast="auto">In the daily charts of GBP/USD, the pair inched up early Friday morning in Asia session.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">As what we can see in the charts, the pair is being supported at the support level at 1.31776 signaling a strong bullish momentum.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">The pair may end strong at the end of this week’s trading session. With Brexit nearing it’s due, we may expect volatility for the sterling starting next week. However, the direction of the price is still uncertain.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">If the price will continue to be supported at the support level at 1.31776, we may see the price test the resistance level at 1.34776. Inversely, if the price will break down from this support level, it may continue to thread lower and re-test the support level at 1.26885.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">The sterling’s outlook so far has been determined by the Brexit sentiment. A Brexit deal will most likely boost the sterling’s performance. On the other hand, a no-deal is a negative for the sterling and it may thread lower.</span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span><span data-ccp-props="{"201341983":0,"335551550":6,"335551620":6,"335559739":0,"335559740":240}"> </span></p>
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