A relatively painless leadership battle will settle some nerves
May is in the clear now and with just the paper work to be done, and stands to become Britain's next PM.
GBPUSD rocketed up through 1.30 to a 1.3018 high before just now falling back to 1.2987.
GBPUSD 15m chart
If I like the idea of buying the pound into the BOE I like the idea of shorting this bounce into 1.30 on the May news even more, so I have.
1.2980 is trying to hold as support and 1.2950 will be next. As 1.2980 is breaking as I type, 1.30 will now grow as resistance.
The process now is for the 1922 Conservative committee to decide whether to revise what was the final finish line for the leadership (Sep 9th) or to declare her the winner now as she's uncontested.
