GBP/USD: Buyers lurk around 1.2710 as lawmakers gather support for PM May’s Brexit proposal
  • British lawmakers come forward to avoid another humiliation for the PM May.
  • The economic platter weighs light and shifts market attention over to politics.

With the latest warnings concerning the no-deal Brexit likely being a positive signal for the UK PM May’s proposal, GBP/USD trades near 1.2730 during early Tuesday.

Notable headline British lawmakers like Finance Minister Philip Hammond, Foreign Secretary Jeremy Hunt and Deputy Governor for monetary policy at the Bank of England (BOE) Ben Broadbent have recently been on wires opposing no-deal Brexit.

The UK Prime Minister Theresa May is also gathering support from Tory loyalists for her Brexit proposal that will be up for voting in the UK parliament from the week starting on June 03.

While political plays could keep offering intermediate moves to the Cable, lack of major data/events might hinder the quote’s momentum.

Technical Analysis

A break of 1.2710 becomes necessary for the sellers to aim for 15 low near 1.2670 and the 1.2600 supports whereas February month low near 1.2770 may confine immediate upside ahead of fuelling the prices to 1.2800 and April lows near 1.2865/70.

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