The GBPUSD moves above 1.2800
The GBPUSD has continued the bouce higher as Corbyn starts process for debate on vote of no confidence.
The price has moved back above the 200 hour MA and tests the 100 hour MA at 1.28118. The high reached 1.2819 so far. The price currently trades at 1.2795. Above is the 100 day MA at 1.2892. The last two trading days has seen tries above that level but the attempts failed. The price is now above the 100 hour MA but still a 50 pips from the 100 day MA.
How this all plays out is up in the air but as Adam points out, it would seem that May would survive. Then the debate goes on as to what they can decide and pass and that requires a lot of cooperation with EU (and lawmakers). The market is "saying" that they give some credence to something getting settled somehow, but the vote of no confidence is step one.
For the EURGBP, the price has moved belwo the 100 day MA and looks toward the 200 day MA at 0.88578.
and isyouy
