Britain has set a deadline of Oct. 15 to strike a free-trade deal with the European Union, and if none is agreed both sides should “accept that and move on,” UK Prime Minister Boris Johnson will say on Monday. Britain left the EU on Jan. 31 but there has been little progress on a new trade deal after a status-quo transition arrangement ends in December.

Talks, which have stalled over Britain’s insistence that it has full autonomy over state aid and fishing, are due to resume in London on Tuesday. French Foreign Minister Jean-Yves le Drian said a trade agreement needed to be reached urgently and he blamed the stalemate on Britain’s attitude.

Johnson will say there is no sense in thinking about timelines beyond Oct. 15.”If we can’t agree by then, then I do not see that there will be a free trade agreement between us, and we should both accept that and move on,” he will say, according to comments released by his office.

If no deal is agreed, Britain would have a trading relationship with the bloc like Australia’s, which would be “a good outcome”, Johnson will say.”As a government we are preparing, at our borders and at our ports, to be ready for it,” he will say. “We will have full control over our laws, our rules, and our fishing waters.”

Adding to it, The U.K. reported 2,988 new corona virus cases on Sunday, a 64% jump from the previous day, and the highest level since May 22. The surge comes as children return to school and the government has started a campaign to get workers back to their offices, especially in city centers, to help the economy recover.

The total now stands at 347,152 cases. Two more people died after testing positive, bringing the number of fatalities linked to the virus to 41,551. Before Sunday, the U.K. had reported an average of about 1,600 new cases in the past week. The number of new cases has tended to dip on weekends when reporting is more limited.

GBP/USD 4 Hour Chart:

Support: 1.3195 (S1), 1.3114 (S2), 1.3052 (S3).

Resistance: 1.3338 (R1), 1.3400 (R2), 1.3481 (R3).

All these catalysts breaks the investors’ confidence against cable. We expect a bearish trend for GBP/USD.