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Original title: Although the UK and the EU have differences, there is still hope of reaching an agreement before the weekend!GBPVersus 1.35 key strength test
On December 2, market analyst Ian Wishart wrote an article saying that UK and EU negotiators are taking advantage of the time to reach a Brexit trade deal before this weekend. British media reported that by the end of this week, both the UK and the EU are hopeful of reaching a deal.
Brexit negotiators continue to struggle to reach a deal this weekend
People familiar with the negotiations said that although progress has been made in the intensive and uninterrupted negotiations in London, the two biggest hurdles still face on the road to a deal, meaning it is impossible to predict the outcome with certainty. . However, two officials said the general sentiment on both sides is optimistic.
On December 2, Barnier, the EU’s top negotiator, will brief diplomats from the 27 EU member states on the progress of the negotiations.
Officials said the next few days are crucial, with the UK and EU teams hoping to reach a deal this Friday or weekend.
One of them said that although the final picture has begun to emerge, the situation is still very delicate.
People familiar with the EU’s position said the negotiators tried to avoid delaying the negotiations until next week, so as not to affect preparations for the EU leaders’ summit that began on December 10.
Not only are European governments busy solving EU budget problems, but the EU negotiating team led by Barnier is also concerned that, in addition to a signed and finalized agreement, they will present any other proposals to the leaders of various countries. it could cause the deal to be broken at the last minute. .
An EU official stated that the EU has outsourced its negotiating work to Barnier and the European Commission. Some countries, especially France and the Netherlands, are concerned about the commitments made on their behalf.
Negotiations remain difficult due to two major obstacles
On December 1, the President of the European Commission, Ursula von der Leyen, declared that the negotiations are very complicated and difficult, but that a conclusion should be reached soon.
He added: “The EU is fully prepared for any outcome, and we will see the outcome of things in the coming days.”
Officials from both parties said that although the deadline for the negotiation process has come and gone, this stage is seen as the true final stage. If the UK and the European Parliament want time to approve any deal before the UK leaves the EU single market on December 31, the negotiations that have been ongoing since March should be concluded in a few days.
If the two sides cannot reach an agreement by then, businesses and consumers will face costs and the destruction of fees and fees, and the relationship between the UK and the EU may be damaged for decades to come.
EU officials said planned British legislation gives the government the power to unilaterally rewrite parts of the Brexit deal, which may lead the EU to refuse to approve any deal. They said that if a deal is reached, the UK will remove the most controversial clause from the bill.
The two biggest obstacles facing the trade deal remain access for EU vessels to British fishing waters and a stable environment for trade competition, but officials say progress has been made in both areas in recent days.
When it comes to fisheries, the UK insists on having greater control over its fishery resources, which the British government sees as a matter of sovereignty. Reaching an agreement on this issue is a prerequisite for reaching a broader agreement, but French President Emacron warned that France will not allow deals that do not respect its own interests.
Commitments being discussed include postponing any changes to the quota allocation and phasing them in. However, one official said that efforts to reach an agreement on this issue have been hampered by two aspects: one is that EU countries have claimed historical rights to fish in certain waters, and the other is that the The UK requires that access to this area be subject to annual negotiations. Sea area.
All things being equal, the two sides are working hard to put in place a system that allows the UK’s environmental and labor standards to develop in a similar way to the EU, but allows the UK government to fully control these standards.
British media said that a deal is still expected this week, analysts suggest paying attention to the key resistance of 1.35.
On December 1, British Prime Minister Johnson’s spokesman Jamie Davies told reporters that the government is working hard to bridge differences with the EU.
A spokesman for British Prime Minister Johnson said Britain will continue negotiations with the European Union on a trade deal this week. Ireland’s deputy prime minister said he hopes to reach a free trade agreement with the UK in the coming weeks.
According to the latest UK media reports, the UK-EU trade deal has entered a “tunnel”. At the end of this week, there is still hope that the UK and the EU will reach an agreement.
From a technical point of view, the next one or two weeks will be the decision
GBP to USD
The key to entering the next uptrend phase. On December 1, Julius Baer’s head of technical analysis, Mensur Pocinci, said:
GBP to USD
A classic head and shoulders inversion pattern has formed. On the chart, 1.35 is an important resistance level. When the new medium-term momentum indicator bottomed out, the market began to try to resolve the reversal pattern and enter a stage of sustainable recovery.
He added: “
In the next week or two,GBP to USDIt will be crucial if it can break 1.35
. Continuing above 1.35 should boost market sentiment and pave the way for at least 1.40 or even 1.45, therefore we advise investors to go long
GBP to USD
。 “
（
GBP to USD
Daily chart)
11:13 AM, December 2, Beijing time,
GBP to USD
Report 1.3419 / 21.
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