The pound sterling was muted on Friday. This came amid news reports that the Scottish courts agreed to hear the UK lawmakers case against PM Johnson’s move to dissolve the parliament before the Oct 31stBrexit deadline. The Scottish court, however, rejected the plea by lawmakers for an interim injunction. A full hearing on the issue is slated for September 3rd.
GBP/USD Testing Support. Will Gains Follow?
The currency pair settled near the support area of 1.2170 on Friday. This comes as price retested the support area more firmly. A rebound off this level is required in order for GBPUSD to push higher. The initial target will be previous highs at 1.2295. A close above this high will open GBPUSD to further potential gains.
