{"id":154698,"date":"2019-09-03T11:18:05","date_gmt":"2019-09-03T15:18:05","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154698"},"modified":"2019-09-03T10:20:48","modified_gmt":"2019-09-03T14:20:48","slug":"sterling-whipsawed-on-brexit-chaos-as-political-showdown-looms","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/sterling-whipsawed-on-brexit-chaos-as-political-showdown-looms\/","title":{"rendered":"Sterling whipsawed on Brexit Chaos as political showdown looms"},"content":{"rendered":"<div id=\"inves-1116872469\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 3, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Lukman Otunuga, Research Analyst, <\/strong><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\"><strong>ForexTime<\/strong><\/a><\/p>\n<div class=\"article-body\">\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>It is going to be an incredibly eventful and extremely volatile trading week for the British Pound as MPs return to Parliament on Tuesday in preparation for a dramatic showdown over Brexit.<\/p>\n<p>Nobody knows what the exact outcome of the events in parliament will be over the next few days, and this sentiment continues to be reflected in the Pound\u2019s valuation.<\/p>\n<p>It seems that expectations are rapidly rising over opposition lawmakers pushing forward a bill to prevent a no-deal Brexit. The battered Pound will be thrown a lifeline on Tuesday if lawmakers overpower the government in a vote \u2013 ultimately blocking Boris Johnson from moving ahead with a no-deal Brexit. However, this will most likely force Johnson to call for a snap election which raises the risk of the United Kingdom crashing out of the European Union with no deal on October 31.<\/p>\n<p>The clock is ticking for Brexit with the hourglass almost empty, especially when considering how Parliament will be suspended from September 9 till the October 14.<\/p>\n<p>Given the time constrains around Brexit and how much is at stake for Britain, the showdown in Westminister will be one to remember for years to come.<\/p>\n<p>Looking beyond\u00a0Brexit and politics, the British Pound is technically bearish on the four hourly\u00a0charts. The GBPUSD tumbled to a fresh 31-year low below 1.2000 today and has scope to extend losses in the short to medium term. A solid breakdown below 1.1950 should encourage a move towards levels not seen since the October 2016 flash crash where prices tumbled to a fresh 31 year low at 1.1841 against the Dollar.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/gbpusdh4_2.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 noreferrer\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Lukman Otunuga, Research Analyst, ForexTime It is going to be an incredibly eventful and extremely volatile trading week for the British Pound as MPs return to Parliament on Tuesday in preparation for a dramatic showdown over Brexit. Nobody knows what the exact outcome of the events in parliament will be over the next few [&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-154698","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154698","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=154698"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154698\/revisions"}],"predecessor-version":[{"id":154706,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154698\/revisions\/154706"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=154698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=154698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=154698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}