GBP/USD dips below 1.2800 as pro-Brexit group will not support the government in a vote

Yohay Elam FXStreet

The BBC's Laura Kuessberg said that the pro-Brexit European Research Group (ERG) has decided to abstain in today's votes in Parliament. The House of Commons debates motions regarding avoiding a no-deal Brexit. The abstention of the group led by Jacob Rees Mogg sets the government for a defeat. A defeat sends a signal to Brussels that the government is not in control.

GBP/USD dropped on the report, hitting a fresh one-month low of 1.2798 before bouncing back to just above 1.2800.

GBP USD ERG not supporting government Valentine's Day

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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