During Tuesday’s trading session, the UK Parliament voted to reject the passage of the deal. The vote results caused high volatility of 220 pips or 1.73% to push the rate to the 1.2670 mark. On Wednesday morning, the currency exchange rate was trading at the previously drawn pattern at 1.2867.
In regards to the near-term future, most likely, the British Pound will continue to surge towards the upper boundary of the descending dominant pattern line at 1.2911.
However, the British Pound could be depreciated against the US Dollar during today’s UK CPI data release at 9:30 which might push the rate to the 1.2805 mark
