- Summary:
- GBPJPY moved below 140.00 after PM Johnson threatened to abandon its Brexit deal if deputies vote down its three-day timetable.
GBPJPY has briefly moved below the 140.00 mark after PM Boris Johnson threatened to abandon its Brexit deal if deputies vote down its three-day timetable to get it through Parliament before the October 31st deadline.
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In today’s speech in the House of Commons, Johnson asked for support for his deal to get Brexit done and move the country forward.
“If Parliament refuses to allow Brexit to happen, and instead gets its way and decides to delay everything until January or possibly longer, in no circumstances can the government continue with this.”
As a result, the pound has moved lower against all currencies. The GBPJPY trading pair found support around the 140.00 mark, where the previous horizontal resistance is located. Previously, the GBPJPY made a 5-month high of 141.51.
The 200 WMA sits at 143.77 and it represents the major target for the bulls.
The House of Commons is expected to vote around 19:00 BST on the proposed timetable.Download our latest quarterly market outlook for our longer-term trade ideas.