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The vote is nearing, the whipsaw effect at Cable returns the price above 1.20
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The House of Commons of Great Britain has submitted its request for an extraordinary Brexit debate today, which is expected to take place at 4.30pm Bulgarian time. The rejection of No - deal Brexit is also expected to be voted on during the debate.
As the clock approaches, we will expect more such sharp movements in both directions and more news or rumors about the saga. The next point we will have to see is whether Parliament's spokesman, John Bercow, will approve the request.
It is almost guaranteed that he will, and it should not be such a surprise. Potentially, the pounds would have reacted in the same way as in the first news, though they were also expected.
Undoubtedly, sellers will come in full force to suppress the attempts of the bulls, because in reality the situation offers nothing new as a development. But as much as the rebels and the opposition manage to annoy Boris Johnson, so will the pounds trying to beat up.
It will not be surprising if, at the end of the day, the pound ends up in positive territory, which will already give a prerequisite for further downward movement with the snap elections, which are likely to be scheduled for October 14th.
Trader Martin Nikolov Read more:
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