- Cable prints multi-week peaks near 1.2880.
- PM May hinted at the likeliness that MPs could support her plan.
- UK’s crucial vote is scheduled for tomorrow.
The buying pressure around the Sterling is picking up pace today, lifting GBP/USD to fresh 2-month tops in the 1.2880 region.
GBP/USD up on May’s optimistic comments
Cable added to Friday’s gains beyond 1.2800 the figure as investors deemed as positive earlier comments by UK’s PM Theresa May.
In fact, May opened the door to a no-deal scenario or a risk of a no Brexit at all in case the Parliament rejects her deal at tomorrow’s crucial vote. GBP appreciated further after May hinted at the likelihood that MPs could now support her plans.
Despite her optimism, consensus among investors expects the Parliament to reject her plans tomorrow.
GBP/USD levels to consider
As of writing, the pair is up 0.11% at 1.2856 facing the next hurdle at 1.2879 (high Jan.14) seconded by 1.2892 (100-day SMA) and then 1.2927 (high Nov.22). On the other hand, a breach of 1.2773 (55-day SMA) would open the door to 1.2740 (10-day SMA) and finally 1.2706 (low Jan.8).
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.