by SignalFactory · September 2, 2019 | 03:51:02 UTC
GBP/USD has been
struggling in a strong dollar environment and a weaker euro clearing out
downside orders on Friday while Brexit headlines continue to roll in as markets
await parliament to return after recess. The pound is trading in the 1.2139 and
1.2160 range at the start of the week while losing trading conditions should be
expected with the US holiday.
Brexit is back
on the agenda
The latest update on
the Brexit front is that Conservative MPs have been warned not to rebel against
the government as opposition MPs plan law to stop a no-deal Brexit. MPs return
from their summer break for just a few days, as Parliament will be prorogued
the following week. “Opposition and rebel MPs will do everything they can
to frustrate Boris, including trying to cancel prorogation and demanding an
extension to Article 50. But like this past week, expect an extreme, proactive
response from No.10. An election may be in sight by week-end,” analysts at
TD Securities explained.
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