GBP a little higher ahead of election vote

4:36 PM 28 October 2019

By its own recent lofty standards it’s been a fairly quiet day for the pound, but we could be set for some volatility this evening with MPs set to vote on Boris Johnson’s call for an election on December 12. Given that a ⅔ majority is required it is unlikely that this will pass, but also keep an eye on the plan from the Lib Dems and the SNP for a December 9 election which has a better chance of passing as it would only need a simple majority.

A debate on this is scheduled to get underway around 17:30 GMT, with a vote taking place sometime after 19:00 GMT.

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GBPUSD is back in the H1 cloud ahead of this evening’s votes. Possible support seen around 1.2790. Source: xStation

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