Cable jumped to a high of 1.3251 as Brexiteers are potentially softening their stance towards May's deal
The Brexit roller coaster continues as now we have Tory lawmakers Michael Fabricant and Iain Duncan Smith reportedly echoing a similar view to Jacob Rees-Mogg that it now comes down to either supporting May's deal or face prospects of no Brexit at all.
That is starting to give hope of a potential softening in stance by the ERG as a whole, which would help boost some confidence for May in attempting a third meaningful vote tomorrow.
Cable rose from around 1.3210 to touch a high of 1.3251 and is now just under there close to 1.3230 as price looks to stay above the 200-hour MA (blue line) now. In doing so, buyers will retain back near-term control of the pair but once again just be wary of any potential Brexit headlines that could easily swing the bias back in favour of sellers.
I'm still not convinced that this would amount to enough support for May but it is what it is. The odds have always been stacked against her and yet she's continued to battle through. Will she be able to revive her Brexit deal from the dead this time around? Let's see how things unfold in the coming 36 hours.
