Sellers are in control on Brexit uncertainty
The UK Labour Party is making their play by looking to pass legislation that will extend Brexit to January 31 2020 from the October 31, 2019 date. PM Johnson wants a deal or no-deal.
If the Labour votes passes, PM Johnson has said that he would call a vote for a general election on Wednesday. If that passes, he intendeds to call for a general election on October 14. What happens between October 14 and October 31st is anyones guess and depends on who wins.
So all the uncertainty has the GBPUSD sharply lower today. A back below a key technical level. That level will be eyed as a barometer for the bulls and bears for the rest of the week. Stay below and the bears remain in control. Move above, and the bulls take back control.
What level am I eyeing? Watch the video and find out....