{"id":61253,"date":"2019-10-29T04:54:03","date_gmt":"2019-10-29T08:54:03","guid":{"rendered":"https:\/\/currencylive.com\/?p=61253"},"modified":"2019-10-29T08:31:57","modified_gmt":"2019-10-29T12:31:57","slug":"101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\/","title":{"rendered":"GBP\/AUD Pointing Downward After UK Parliament Rejects Election Bid"},"content":{"rendered":"

GBP\/AUD has tumbled 0.30% in early trading on Tuesday, currently fluctuating at around 1.8750 as of 05:30 AM UTC.<\/p>\n

The pair has moved within a symmetrical triangle since October 15. In technical analysis, pattern precedes a bullish rally or a steep downtrend, depending on which side of the triangle is broken. For GBP\/AUD the price has just broken the lower line, anticipating a bearish trend in the coming days.<\/p>\n

The next stop for the quotation might be between 1.8500 and 1.8600. Nevertheless, any relevant Brexit news could reverse the trend.<\/p>\n\n\n\n
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UK Parliament Rejects Johnson\u2019s Election Bid<\/strong><\/p>\n

The British pound began to lose strength after the UK parliament rejected Prime Minister Boris Johnson\u2019s bid to call a general election on December 12. This is the third time when members of the parliament (MPs) reject an election bid.<\/p>\n

Johnson, who leads the governing Conservative Party, doesn\u2019t have the power to hold an early election as he needs the approval of two-thirds of MPs, which means at least 434 votes. In this case, the PM has to convince the opposition to vote his bid. While 299 MPs supported the bid and only 70 voted against it, the bill failed to achieve the needed 434 votes.<\/p>\n

The PM hopes to hold an early election in an effort to accelerate the UK\u2019s withdrawal from the European bloc. He anticipates that the Conservatives would strengthen their position in the parliament after the election, which is not necessarily true. In the best-case scenario for Johnson, he would be able to move on with his Brexit plans by having the parliament\u2019s support thanks to more seats won by the Conservative Party.<\/p>\n

As of today, the opposition is too strong for the PM, with the parliament constantly rejecting his motions.<\/p>\n

Jeremy Corbyn, leader of the opposition Labour Party, said that he couldn\u2019t trust Johnson and wouldn\u2019t approve a poll until the PM doesn\u2019t definitively rule out a no-deal Brexit.<\/p>\n

Johnson doesn\u2019t give up his plan. Today, he will propose another motion to call for an early election.<\/p>\n

\n

 <\/p>\n

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GBP\/AUD has tumbled 0.30% in early trading on Tuesday, currently fluctuating at around 1.8750 as of 05:30 AM UTC. The pair has moved within a symmetrical triangle since October 15. In technical analysis, pattern precedes a bullish rally or a steep downtrend, depending on which side of the triangle is broken. For GBP\/AUD the price […]<\/p>\n","protected":false},"author":163946598,"featured_media":3089,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1541,1396,1386,1394,1443,1732],"class_list":{"0":"post-61253","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-gbp","9":"tag-aud","10":"tag-australian-dollar","11":"tag-boris-johnson","12":"tag-brexit","13":"tag-gbp","14":"tag-jeremy-corbyn","15":"tag-labour-party"},"acf":[],"yoast_head":"\nGBP\/AUD Pointing Downward After UK Parliament Rejects Election Bid - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/AUD Pointing Downward After UK Parliament Rejects Election Bid\",\"datePublished\":\"2019-10-29T08:54:03+00:00\",\"dateModified\":\"2019-10-29T12:31:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\\\/\"},\"wordCount\":583,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100028-aud-up-gbp-china-silk-road.jpg\",\"keywords\":[\"aud\",\"australian dollar\",\"boris johnson\",\"Brexit\",\"gbp\",\"Jeremy Corbyn\",\"Labour Party\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101344-gbp-aud-pointing-downward-after-uk-parliament-rejects-election-bid\\\/\",\"name\":\"GBP\\\/AUD Pointing Downward After UK Parliament Rejects Election Bid - 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