GBPUSD moves higher on the headline
- 2nd referendum is conditional that the withdrawal agreement Bill passes at the 1st stage
- May proposed a free vote on a 2nd referendum and sparked a massive backlash from Pro-Brexit ministers
- May was prepared to put 2nd referendum and customs on the face of the withdrawal amendment Bill, but backed down when Andrea Leadom, Chris Grayling, Geoffrey Cos, and then some others totally called the idea totally unacceptable (from the Telegraph).
It seems there is a little confusion whether there will be a 2nd referendum or not. The proposal was made, but it was faced with a "massive" backlash from cabinet ministers. PM May is scheduled to speak soon, and we will hear it from "the horses mouth".
Laura Kuenssberg from the BBC tweets:
While Sky News Beth Rigby tweets:
The GBPUSD has moved sharply higher on the headlines, but has backed off from higher levels. Above is the 38.2% at 1.28204. The high reached 1.28128. Above that, the 50% of the move down comes in at 1.28623, and the 200 hour MA comes in at 1.28725. Those would be upside targets on more momentum to the upside.
On the downside, the high yesterday was at 1.2756. That area would be a close risk area now.
