Brexit: Labour says there is no point in cross-party talks, GBP/USD challenges February low
|A source in Labour, the UK's main opposition party, says there is no point in extending the cross-party talks with the ruling Conservative Party as the government is on the verge of collapse.
The move by Jeremy Corbyn's party comes after Tory backbenchers showed PM Theresa May the door. She pledged to set out a timetable for stepping down after the upcoming Brexit vote in early June. The PM promised to quit regardless of the result.
GBP/USD is trading very close to 1.2775, the swing low seen in mid-February. A loss of this level opens the door to levels last seen in January, with 1.2670 serving as the next support line.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.