In the run-up to tomorrow’s D-Day, European lawmakers approved the UK’s withdrawal bill. This means that the European parliament seats will also shrink.
The motion sets into play the formal exit from the EU by the UK tomorrow. This also opens an 11-month transition period for the UK to fully withdraw from the European Union.
GBP/USD Remains Subdued
The currency pair is extending declines, but price action is finding support off the dynamic support level of the trend line. Prices remain confined to the range of 1.3100 and 1.2960. A breakout from this level could trigger the direction in the near term. We expect GBPUSD to rise back to the 1.3100 level.
