Brexit: Labour is whipped to support second referendum indicative vote, GBP holds higher ground

Yohay Elam FXStreet

The UK media, including ITV's Robert Peston and Paul Brand, is reporting that Labour, the main opposition party, will support and whip the amendment to support a second referendum. The amendment is part of the series of indicative votes that Parliament will hold and has been tabled by Dame Margaret Beckett, Peter Kyle, and Phil Wilson.

UK PM Theresa May continues in her attempts to muster support for the Brexit deal she reached with the European Union. There are reports that Parliament will vote on the deal on Friday, the original Brexit date. May will address the 1922 Committee of backbenchers later today.

GBP/USD is trading above 1.3200, up on the day ahead of the indicative votes. The low of the day was 1.3166 and the high has been 1.3232.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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