November 26, OctaFX – On Sunday, the European leaders voted to accept the proposed Brexit deal. In the coming two weeks, Theresa May will work hard to convince the members of parliament to accept the deal.
In a statement yesterday, she said that the MPs who will vote against the proposal will risk plunging the country into ‘more uncertainty and division’.
She also said that the Brexit deal was one that worked for the EU and the UK. She will have an uphill task convincing her fellow conservative members to accept the deal. Already, more than 90 MPs have criticized the agreement.
Today, she will meet her cabinet before embarking on a two-week campaign for the deal.
GBPUSD Technical Analysis
The GBPUSD was little moved today as traders remained pessimistic about the likelihood of a vote in favor of the deal passed by the EU27. It is now trading at 1.2813, which is slightly above the Friday’s close of 1.2794.
The volatility index remained at Friday’s lows as shown below. Its short and long-term EMAs show indecision in the pair. This week, the focus will remain on Theresa May and the conservative party as MPs announce how they will vote.
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