Brexit and political uncertainty continue in the UK. In the latest move, lawmakers are planning to vote to stop Britain from leaving the EU without a deal in hand. However, PM Johnson reiterated that the UK will be leaving the EU regardless of a deal. The UK is also possibly headed for another general election if lawmakers vote to block a no-deal Brexit.
GBP/USD Pares Losses From Earlier This Week
The currency pair recovered off the day’s lows. GBPUSD initially slipped to new lows of 1.1957, before turning bullish. The bullish momentum, if maintained, could see the currency pair attempting to test 1.2170 level. However, this will be subject to the current short-term resistance at 1.2082 being cleared.