Technical Analysis

UK PM Truss is not meeting Sir Graham Brady

According to a Number 10 source, UK PM Truss is not meeting with Sir Graham Brady, the head of the backbench 1922 committee.

According to sources, the head of the 1922 committee Brady has received up to 100 letters calling on Truss to go. The new PM as per rules is not to have a vote of confidence within a year. Though the threshold for letters is technically 54 for a vote of no confidence (after a year) since Truss is immune from a no-confidence vote for another 11 months, the real number to force her out is half the parliamentary party or 179.

The nuances of the UK political system.

The GBPUSD is trading within a lower swing area between 1.12109 1.1253. The current price trades at 1.1232. The low price today reached 1.12207 about 10 pips away from the lower next target. On a move below 1.12109, traders would look toward the 200 hour moving average 1.1915

GBPUSD trades below its 100 hour MA but above it 200 hour MA

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