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Theresa May suffered a defeat in Parliament

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Today, the vote on Brexit's Theresa May proposal to leave the European Union took place. The vote began at 21:00 GMT, with the initial vote on the changes to the Irish backstop and the border dispute. The proposal for changes to the conditions for the Irish border was rejected by 600 votes against 24.

The main vote on the proposed agreement followed, which was rejected by 432 votes against 202. This loss was brutal. Jeremy Corbyn, in a statement, proposed a no-confidence vote against the government, accusing May of incompetence to conduct an adequate policy to implement a good Brexit.

There followed a short statement by Theresa May, in which she made the following statements:

  • Today's vote did not tell us what, in the end, supported Parliament
  • We deserve to be clarified whether Parliament will respect the results of the referendum
  • First, we need to make sure that the government still has the confidence of Parliament
  • Assuming he won the no-confidence vote, May will start talks again with the opposition
  • May will make a statement for the next step next Monday
  • Clock ticking ...
  • May will table a proposal for a change on Monday and will give the opportunity to vote
  • May will not resign

The pounds stayed under the pressure of the bears all day, dropping by about 210 pips to the very vote at which, until the last price was suppressed. The price dropped to 1.26679, then the announcement of the results saw classic stop hunting and pull the price with a huge queue after it, with the bulls recovering nearly 72% of today's decline or about 152 pips.


 Trader Martin Nikolov

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