The UK Supreme Court ruled on Tuesday that the suspension of the UK parliament was unlawful. The ruling comes after the UK government appealed the Scottish court ruling a few weeks ago.
Following the Supreme Court’s verdict, some lawmakers called for Johnson to resign. However, the PM tweeted that he will get on and deliver Brexit on October 31.
GBP/USD Pares Losses, Near Term Upside Possible
The currency pair has reversed the recent declines. Price action is back to testing the resistance area of 1.2511. As long as price action remains below this level we expect the downside to prevail. GBPUSD is pending a retest of the lower support at 1.2370 in the short term.
