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Today's Market Fundamentals
There was some meaningful Brexit related news yesterday which included an extension of Article 50 as PM May continues working on a deal that she hopes will pass by March 12 – I hope that this is not an attempt to “kick the can down the road.”
There was some politicking going on as the Labour Party yesterday supported both an amendment which would take a ‘no deal’ off the table, as well as a second referendum on Brexit which is a big shift. There are a lot of Labour MP’s that were elected on the back of a “leave” vote in the original referendum – this is a bit of a gamble though as he clearly panicking after 7 members left his party this month.
I would look for the GBP pairs to take some sort of breather this week.
Today's Market Trading Levels
- GBPJPY SELL 145.50 – 145.90
- GBPUSD SELL 1.1490 – 1.1520
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