Summary:
• GBPUSD has moved below the 1.29 handle last night after the House of Commons voted against a proposal to examine the prime minister's bill in three days.

GBPUSD has moved below the 1.29 handle last night after the House of Commons voted against a proposal to examine the prime minister’s bill in three days. The Prime Minister Johnson reiterated his will to push for election if EU offers extension until January.

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[vc_single_image image=”14654″ img_size=”medium” alignment=”center” style=”vc_box_rounded” onclick=”custom_link” img_link_target=”_blank” link=”https://news.investingcube.com/q4-global-market-outlook-eurusd-gold-crude-oil-bitcoin-sp-500/”]Although the MPs approved Johnson’s Withdrawal Agreement Bill in the  second reading (329 votes to 299), the House of Commons defeated the PM in a second vote, just a few minutes after the first vote, on a fast-tracked procedure for the deal.

“We want to crack on. And if we can’t crack on, regrettably it does seem that a general election is the only way to sort this impasse out,” commented Justice Secretary Robert Buckland.

As a result, GBPUSD initially moved 120 pips lower to $1.2880, before hitting a 5-day low of $1.2841. The resistance, in the context of the ascending trend line, remains at $1.3080, while the first substantial support is located at $1.2780.