The Pound reached stability. For now. Overview for 21.11.2018

GBPUSD is trading a little bit upwards, although the worst stress may be ahead.

The British Pound is rising a bit against the USD on Wednesday. The current quote for the instrument is 1.2796.

Yesterday’s report on the CBI Industrial Order Expectations in November showed 10 points, which is much better than both expected and October readings of -6 points. However, the statistics didn’t prevent the Pound from falling, because investors’ attention is still completely focused on the Brexit and everything relating to it. 

There will be a meeting today featuring the British Prime Minister Theresa May and the President of the European Commission Jean-Claude Juncker. This is one of the most important parts of the Brexit talks, but the parties are highly unlikely to negotiate the approval of the final draft of the Brexit agreement. May is still prime for making progress and finalizing the agreement as soon as possible. Juncker, in his turn, may be very cautious. 

Yesterday, the Brexit was discussed in the Cabinet of Ministers and the results were pretty positive. 

Also, today May is scheduled to meet with Scottish representatives, but the meeting agenda hasn’t been revealed yet. Still, the meeting isn’t likely to force any fluctuation in the Pound instruments, because Scotland, unlike Ireland, has no topical issues to discuss with the United Kingdom.