Comments coming out about Brexit
The Telegraphs Asa Bennett (Brexit commisioning editor) is out with a tweet saying:
The alternative Brexit Malthouse Compromise contains two choices for the EU:
- For how the UK will leave with a deal,
- For how it will leave without.
The first plan is similar to the current Withdrawal Agreement, but with changes to the Irish backstop and the implementation period. The implementation period would be extended until "no later than December 2021". ANother difference is to the backstop, which would be changed to become a "basic free trade agreement".
The 2nd plan assumes that agreement on the Withdrawal Agreement is not possible and creates a "transitional standstill period". Britain would remain in a transition period even if a Withdrawal Agreement had not been signed. In short, the UK would become a third country, but would offer to pay the EU in exchange for retaining the implementation period until no later than December 2021.
The GBPUSD remains near the lows for the day. The correction off the bottom has moved back above the 50% of the move up from the Jan 15 low at 1.29412, but has only corrected to the 38.2% of the last trend move down today. That is not a lot. The 100 bar MA is moving down to catch up with the price (at 1.2972 and moving lower). IT would take a move above that MA to potentially change some of the bias a little more to the upside (but only a little).
In another twet from ITVs politial correspondent said:
