GBP/USD Jumps on Brexit Specualtion

Another day and more speculation around Brexit. Today the news is positive for Cable as it appears that PM May is getting set to update parl

Written by: Dime Levov • Tuesday, February 26, 2019 • 1 min read

• Last updated: Tuesday, February 26, 2019

Another day and more speculation around Brexit. Today the news is positive for Cable as it appears that PM May is getting set to update parliament on the possibility of delaying the deadline.

As it stands the deadline was sitting at March 29.

PM May is expected to allow Cabinet to discuss extending the deadline further. That will stop the UK leaving the EU without a deal in place.

GBP/USD Jumps

The GBP/USD is higher on the news and today is pushing up 0.2% in early Asian trade.

There are some key levels ahead and none bigger than 1.3200. If we start seeing price test the highs and hold, then we could well be in for an extended move.

1.3300 is major resistance and is the next key point that will need to break.