{"id":146314,"date":"2019-04-23T11:26:24","date_gmt":"2019-04-23T15:26:24","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=146314"},"modified":"2019-04-23T11:26:24","modified_gmt":"2019-04-23T15:26:24","slug":"pound-hangs-on-brexit-politics","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/pound-hangs-on-brexit-politics\/","title":{"rendered":"Pound Hangs On Brexit Politics"},"content":{"rendered":"
April 23, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Brexit Cross-Party Talks To Accelerate<\/strong><\/h2>\n

Theresa May is going to\u00a0accelerate cross-party Brexit talks<\/strong>\u00a0this week as MPs come back from a long Easter holiday break. The UK\u2019s prime minister will step-up negotiations with Labour in a bid to strike a compromise as soon a possible.<\/p>\n

Cabinet ministers presented a rosy picture when asked about the outcome of the discussions. However, in private, they confessed that Labour\u2019s plan of a permanent customs union leaves the PM empty-handed.<\/p>\n

Conservatives Running Out of Time Amid European Elections<\/strong><\/h2>\n

The clock for May is ticking and she needs to act quickly before her party suffers a crushing\u00a0defeat in the May European elections<\/strong>.<\/p>\n

Labour is offering no incentive, and eurosceptics and the DUP are demanding changes that PM May isn\u2019t willing to make. Because of this, a parliament-approved Brexit plan might have trouble coming to life before the\u00a0October 31st deadline.<\/a><\/p>\n

But May will need to receive all the help\u00a0she can as her Conservative party faces a strong defeat in the EU elections, a poll shows.<\/p>

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Prime Minister Could Face New Leadership Challenge<\/strong><\/h2>\n

In the likely scenario that May fails to persuade parliament to back her deal by May 22 \u2013 a day before the European elections commence \u2013 she could face a\u00a0new leadership challenge<\/strong>.<\/p>\n

Despite surviving a confidence vote that cannot be re-challenged until December, Conservative MPs and backbenchers are discussing the potential to\u00a0remove her from Number 10<\/strong>\u00a0within a matter of few days.<\/p>\n

In fact, it is not certain she will even have until May 22nd as Downing street requires a more pro-Brexit PM and fast.<\/p>\n

Is There Hope For Pound?<\/strong><\/h2>\n

The British pound fell\u00a0below the $1.30<\/strong>\u00a0support<\/strong>\u00a0last week. Although, in consolidation, prices have broken outside both the minor and major ascending channels. And this adds a\u00a0bearish bias<\/strong>\u00a0on sentiment. With GBPUSD remaining below $1.30, we expect short-term weakness to weigh the currency pair down. But the likelihood of\u00a0retesting the former channel resistance<\/strong>\u00a0also plays a part.<\/p>\n

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By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Brexit Cross-Party Talks To Accelerate Theresa May is going to\u00a0accelerate cross-party Brexit talks\u00a0this week as MPs come back from a long Easter holiday break. The UK\u2019s prime minister will step-up negotiations with Labour in a bid to strike a compromise as soon a possible. Cabinet ministers presented a rosy picture when asked about […]<\/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-146314","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146314","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=146314"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146314\/revisions"}],"predecessor-version":[{"id":146323,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146314\/revisions\/146323"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=146314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=146314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=146314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}