FxWirePro: Daily Commodity Tracker - 21st March, 2022 
In June 2016, the people of the United Kingdom voted to move the country out of the European Union, which was a major shock for the ruling Conservative Party, whose majority of the politicians were campaigning to remain within the Union. The major opposition Labour Party leaders were also campaigning to remain within the Union, whereas smaller parties like the UK Independence Party (UKIP) led by Nigel Farage and dissenters from all parties such as Boris Johnson, Michael Gove were campaigning in favor of it.
After the shocking referendum, the country went to an election where the Conservative Party won the highest number of the seats but lost its majority and has since been ruling as a minority government. Despite promise to deliver the Brexit - moving the UK out of the Union; after three years of failed negotiations and political dramas, the UK is still within the European Union, left without a Prime Minister, with two main parties (Conservative and Labour) fighting for power and the EU election clearly showing the country has become more politically divided than ever.
A politically divided country in the midst of a chaotic Brexit with no Prime Minister - the worst of fundamentals is here to stay, amid weakness in the global as well as the UK economy.
Trade idea:
We expect the bounce backs in GBP/USD would be an opportunity to enter medium term short positions with a target of 1.15 and the stop loss around 1.325 area.
