Very important Motion in British parliament now for GBP
GBP is gaining traction because MP's are voting in short time from now on motion which would not allow prorogue parliament or suspension of parliament by Borris Johnson in order to force no-deal brexit..
As we know parliament has already ruled out no deal brexit and if this motion passes then risk of No-Deal brexit will decrease very signficantly .
Decreasing No-deal risk will be very helpful for GBP and we will see Pound rising in coming days as it is still sitting on strong multiyear support and there is way more possibility of GBP to moving high rather than moving lower ,
In case this motion passes which is highly probable as per now we will stay long in GBP with target 1.35 for now.. If unfortunately the motion looses we will see strong sell off from current levels and if pound closes below current levels on weekly chart we are looking at GBPUSD visiting 1.21 levels near term with uncertainity looming..
stay with us for more updates....
As we know parliament has already ruled out no deal brexit and if this motion passes then risk of No-Deal brexit will decrease very signficantly .
Decreasing No-deal risk will be very helpful for GBP and we will see Pound rising in coming days as it is still sitting on strong multiyear support and there is way more possibility of GBP to moving high rather than moving lower ,
In case this motion passes which is highly probable as per now we will stay long in GBP with target 1.35 for now.. If unfortunately the motion looses we will see strong sell off from current levels and if pound closes below current levels on weekly chart we are looking at GBPUSD visiting 1.21 levels near term with uncertainity looming..
stay with us for more updates....
Comment:
motion passed in parliament .. we may see now gbp moving higher in coming days