The pound stays firm near its weekly high after two eurosceptic MPs stated they would change their minds and back Mrs May’s deal. A deal is still a better option than a longer delay or Brexit cancellation. Parliament will vote today on a range of options, including a closer tie with the block, a longer delay with the possibility of a second referendum down the road. As long as the threat of no-deal is off, the pound would see a better day.
On the technical side, cable is trading in a wide range between 1.3000 and 1.3330. Rising moving averages act as support to the price so far. 1.3160 remains the immediate support for the day.
The sentiment-price correlation chart shows the sentiment on the neutral line. We could expect the price to stay in range before a catalyst cause a breakout.
