Brexit Latest – Talk That EU is Ready to Offer UK Major NI Concession

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Brexit and Sterling (GBP) News, Charts and Analysis

  • EU may offer the UK a time limited NI backstop.
  • GBP/USD jumps on market rumor.

Brand New Q4 2019 GBP Forecasts and Top Trading Opportunities


A story emanating from the UK Times newspaper saying that the EU is willing to offer the UK a time limited Northern Ireland Backstop to break the current Brexit stalemate. GBPUSD jumps 60 pips to 1.2270 on the rumor which has yet to be confirmed or denied by either side.

GBPUSD 5-Minute Price Chart (October 9, 2019)

The IG Client Sentiment Indicator shows retail traders are 74.0% net-long GBPUSD, a bearish contrarian bias. See how daily and weekly sentiment shifts change GBPUSD bias.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on Sterling (GBP) – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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