Breaking international law in a “limited way”

The head of the U.K. government legal service has resigned due to Prime Minister Johnson's plan to overwrite parts of the Northern Ireland protocol.

Brexit 1

Jonathan Jones, head of the U.K. government legal service, has resigned and it is reported that his departure was due to Prime Minister Boris Johnson's plan to overwrite parts of the Northern Ireland protocol. Brandon Lewis, secretary of state for Northern Ireland, said the plan "does break international law in a very specific and limited way". GBP/USD has hit the lowest level since July 30.

From a technical point of view, on a 30-min chart, GBP/USD is trading within a bearish channel, capped by its declining 50-day moving average (in blue). The daily RSI remains within its selling area. Readers may therefore consider the potential for further weakness below horizontal resistance at 1.3055. The nearest support would be set at 1.2895 and a second one would be set at previous overlap at 1.2845 in extension.

Source: TradingView, GAIN Capital


More from Forex

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.