GBPUSD craters on Cox legal advice

GBPUSD tumbled to 1.30, erasing the whole gain from yesterday, following remarks from attorney general Geoffrey Cox that the latest agreement between May and Juncker (the reason the pair spiked higher yesterday) changes nothing in legal terms regarding the Irish backstop. His opinion may have already deflated any chances for May to win today’s vote in the parliament but as there is still at least 7 hours left, the pound might be in for a rough ride.

Economic calendar: Nikola earnings, API oil report
Morning wrap (03.08.2021)
Daily summary: US stocks gave up early gains. Oil under selling pressure
Li Auto delivered record number of cars in July
EUR/USD Analysis: USD remains weak
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.