More Risks For the GBP/USD Seen This Week

The GBP/USD remains under pressure as OCBC expects significant headline risks for the pound this week over Brexit developments, citing the UK Prime Minister May looking to table another Brexit deal–largely similarly to the previously rejected deal–to the Parliament for approval. If this fails, the Parliament will vote on motions that will rule out a no-deal Brexit and an extension, the bank says, noting that GBP/USD risk reversals are pointing for further south. The pair is trading near 1.2974.