Ahead of the UK's exit from the European Union on 31 January, the new Brexit Process will begin and here are some important things that might be market opportunities for movement in 2020:
In mid-January, the first meeting of Eurozone officials to approve documents for the exit of Britain from the Eurozone.
If it goes according to schedule, the UK will officially leave the European Union on 31 January 2020 at 23:00 London time (06:00 WIB, 1 February 2020), starting the Brexit transition period. During this time, the European Union and the United Kingdom are expected to be able to finalize an agreement to reach an agreement on the necessary issues and regulations.
February 21 2020, ZOna Euro officials are scheduled to hold a meeting in Brussels, and may be the time to discuss and approve the mandate to negotiate with Britain.
End of February - Early March is expected to be a time of meeting and initial discussion of the Eurozone - UK related to the initial post-Brexit agreement.
The Eurozone and UK summit is expected to take place in June 2020, when determining whether a new trade agreement between the two zones can be reached in 2020, if it is in line with the expectations of the British Prime Minister, Boris Johnson, to complete the transition period in late 2020.
In November 2020 it was the final moment for Eurozone officials to agree to a second agreement during the transition period.
If there is no delay and extension of the transition period, also the agreement between the Eurozone and the UK has been agreed, then Brexit will be carried out on 31 December 2020.
To reach an agreement during the 11-month transition period, it was considered extraordinary, and it was possible for the European commission to offer a Brexit delay.
If these agreements are reached smoothly, it has the potential to help strengthen the GBPUSD in the hope of steps.
