ridethepig

An update to Cable ahead of the vote

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FOREXCOM:GBPUSD   British Pound / U.S. Dollar
The vote is kickstarting at 7:00pm GMT and I am still expecting another defeat here. What is necessary to track today is the severity of the defeat and the reaction of the DUP party.

Odds of any deal passing today remain at 17%.

The main issue for PM May is the slim majority she is barely holding onto. The deal will likely pass eventually, although we might have to see more economic pain in the UK for the DUP and other Labour Brexiteers to follow suit first... This pantomime may take till the summer.

If it is voted down (expected today), then the next stage for parliament will be a vote on whether the government supports leaving a “no-deal” option on the table tomorrow and on Thursday the UK Government will vote on whether they should ask for a delay to the Brexit date.

For those trading Sterling, we are almost back to the original entries of our shorts earlier in the month with late sellers getting caught underwater.

Best of luck those trading the event live, here looking for more positions on the sell-side.
Trade closed: target reached

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