Sterling Soars To The Highest Since Early December After May’s Surprise Statement
British Pound surged nearly 2 percent to trade at the highest level since early December, 2016 after Prime Minister Theresa May on Tuesday called for an early election on June 8, which suggests a potential stable domestic U.K. politics ahead of Brexit.
The pair GBPUSD soared steeply on Tuesday after May called an early vote in June in an attempt to seek to strengthen her parliamentary power in divorce talks with the European Union.
According to Deutsche Bank, May’s surprise statement was considered to be a “game-changer” for the currency as support for her Brexit plan will be shored up considerably if she wins the June poll.
Buy Stop at 1.27600, Take profit 1.28000, Stop loss at 1.27400