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Fundamental analysis

GBPUSD Only Intraday Bullish Above 1.2882

OctaFx | Nov. 26, 2018
GBPUSD Only Intraday Bullish Above 1.2882

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.

Brexit 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.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.