Fundamental Analysis of GBP/USD for April 1, 2019

On Friday the UK was supposed to leave the EU but instead it was the day when Theresa May's proposal on the exit deal was rejected for the third time. The voting having 9 consecutive "NO" s on Friday could spark off a crisis in the UK economy along the way.

According to the European Commission, a NO DEAL BREXIT is more probable, and the EU authorities are quite prepared to take on this pressure. The vote on Friday revealed that there are currently two ways the Brexit could proceed: the first scenraio is a departure in the middle of chaos without any deal or election of a different parliament. Lawmakers rejecting May's Brexit deal indicate that the UK economy is going to get a huge blow in the coming days. According to PM May, limits are being reached in the house and the implications of the House's decision are grave. After the vote, the European Commission scheduled a meeting on 10th April to discuss Britain's departure. Nevertheless, there is still a little chance of Brexit being delayed which might help the UK economy to tackle things better and prevent it from a drastic fall in the world economy.

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