UK General Elections are one of the key events to watch this week as a result of the vote is likely to have a major impact on the future of Brexit. We provide you with a list of what you should know about the elections as well as the timetable for the elections night.
Things you should know about the UK elections
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General elections in the United Kingdom started at 7:00 am GMT and will end at 10:00 pm GMT
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Conservatives forecasted to win a 28-seat majority of 339 seats
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Labour forecasted to win 231 seats
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Implied 1-day GBPUSD volatility at the highest level since Brexit referendum
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It is said that queues to the polling stations are way longer than they used to be during previous elections - potential for a high voter turnout
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Any media reporting on voting intentions between 7:00 am GMT and 10:00 pm GMT is forbidden by UK law. Markets may become more volatile at 10:00 pm GMT when the ban is lifted and exit polls hit the wires
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Smaller parties, like Liberals or SNP, are unlikely to play a major role unless Conservatives fail to secure a majority. In such a scenario, those parties are likely to play a key role in forming a majority government
Timetable for the night (timings are approximate and are subject to change)
Thursday
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10:00 pm GMT - voting ends and exits polls are being announced
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11:00 pm GMT - results from Sunderland and Newcastle are announced. These constituencies are Labour strongholds therefore Tory win there could be a bad omen for Jeremy Corbyn
Friday
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1:00 am GMT - results from typical swing constituencies start to surface. Over the next hour results for the seats that Tories targeted to take away from Labour will be announced
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2:00 am GMT - pace of result announcements increases
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3:30 am GMT - results from around half of constituencies should be announced already
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4:30 am GMT - more than 500 out of total 650 seats should be announced by now. Winner could be clear by now unless it is a close call. Boris Johnson will also get an answer whether he won a seat in Uxbridge and South Ruislip constituency
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6:00 am GMT - over 600 seats announced. If winner is not known by this time it means that Conservatives disappointed and market attention is likely to shift to possible coalitions
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10:00 am GMT - announcement of last results. Full official results should be announced shortly afterwards
GBPUSD lost some ground recently as polls showed that lead of Conservatives over Labour is narrowing. The pair is being pressured today but managed to find a support at the 33-exponential moving average (green line, H4 interval). Key support can be found at the lower limit of the Overbalance structure (1.2985). Source: xStation5
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