{"id":140240,"date":"2019-01-16T20:55:18","date_gmt":"2019-01-17T01:55:18","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140240"},"modified":"2019-01-16T20:35:03","modified_gmt":"2019-01-17T01:35:03","slug":"theresa-may-survives-no-confidence-votewhat-next","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/theresa-may-survives-no-confidence-votewhat-next\/","title":{"rendered":"Theresa May survives no-confidence vote\u2026what next?"},"content":{"rendered":"<div id=\"inves-1478536194\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 16, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/strong><\/p>\n<div class=\"article-body\">\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>Sterling offered a fairly muted reaction on Wednesday evening despite UK Prime Minister Theresa May narrowly surviving a vote of no-confidence in Parliament.<\/p>\n<p>The relatively subdued price action is likely based on the fact that this outcome was already heavily priced in. With May\u2019s victory removing an element of uncertainty at a time where Brexit continues to drain investor confidence, the British Pound has scope to edge higher in the near term. However, this illusion of stability is unlikely to last, especially when considering how the Prime Minister only has a few days to present an alternative Brexit plan to Parliament.<\/p>\n<p>Expectations seem to be\u00a0growing by the day over the government extending Article 50 in a bid to prevent the UK from crashing out of the European Union without a deal in place. Investors will be paying very close attention to see whether May is able to secure further concessions on the Irish border backstop from the European Union. If Brussels continues to play hardball on the backstop clause, expectations are poised to mount over a Norwegian style Brexit in the cards or in extreme cases a second referendum. With the Pound\u2019s outlook mired by Brexit uncertainty and political risk at home, investors should fasten their seatbelts and prepare for a rough and rocky ride ahead.<\/p>\n<p>In regards to the technical picture, the GBPUSD\u2019s direction remains influenced by Brexit headlines. There needs to break above 1.2920 to open a path higher\u00a0towards the psychological 1.3000 level.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/gbpusddaily_561.png\" alt=\"\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<\/div>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"https:\/\/www.countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Sterling offered a fairly muted reaction on Wednesday evening despite UK Prime Minister Theresa May narrowly surviving a vote of no-confidence in Parliament. The relatively subdued price action is likely based on the fact that this outcome was already heavily priced in. With May\u2019s victory removing an element of uncertainty at a [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-140240","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=140240"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140240\/revisions"}],"predecessor-version":[{"id":140246,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140240\/revisions\/140246"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=140240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=140240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=140240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}