Intra-Day Market Moving News and Views -GBP/USD
|Intra-Day Market Moving News and Views
14 Nov 2017 02:00GMT
GBP/USD - 1.3222.. Cable rebounded on short covering in New York afternoon yesterday. Traders cited latest Brexit news for such a move. Reuters reported earlier British Brexit minister David Davis said on Monday the government would allow parliament the opportunity to debate, scrutinise and vote on any final Brexit agreement, offering a concession to Conservative Party rebels.
Prime Minister Theresa May is under pressure to offer a 'meaningful vote' on any deal for Britain's departure from the European Union. Members of her own party are willing to vote against the government to stymie a bill which she says is needed to sever ties with the bloc.
Due to market woes on U.K. leadership challenge suggests downside bias remains, below 1.3027 would extend fall from 1.3659 towards 1.2995.
Hold short for 1.3045 and only above 1.3165 would 'prolong' choppy consolidation, risk 1.3190/00 before down.
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