GBP / USD: Pound believes in Theresa May?

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The situation around Brexit continues to be one of the central themes of the financial market.

On the eve, the British parliamentarians have expressed confidence in the country's cabinet of ministers headed by Theresa May. Now, the government has to determine its next steps and to submit a "Plan B" to the House of Commons already on January 21 for the country's withdrawal from the European Union.

It should be noted that the Prime Minister has not yet withdrawn from Parliament her version of the deal with the EU and seems to be going to put it back to vote in February. However, it is not clear whether the text of the agreement will be amended and whether Brussels will go on new negotiations with London.

Meanwhile, one of the scenarios suggests that the date of initiation of the 50th article of the Lisbon Treaty, and accordingly, the date of exit from the EU can be postponed to a later period.

It is possible that T. May counts precisely on this scenario, hoping to win some more time in order to convince parliamentarians to vote for her proposed deal.

Despite the fact that the chances of success of this enterprise are not so high, it is necessary to recognize that only under the leadership of the current Prime Minister, London will be able to count on an orderly and controlled Brexit. At least, this is evidenced by the dynamics of the British currency, which has recently demonstrated remarkable resilience.

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Specialists of the financial company Standard Chartered believe that the pound sterling can receive wide support if it is officially announced the extension of Article 50 of the Lisbon Treaty.

HSBC experts, in turn, expect that in the case of a "soft" Brexit, a "British" may rise against the dollar to $ 1.37, if the country remains in the EU, up to $ 1.55, and in the "hard" scenario, by contrast, risks up to $ 1.10.

The material has been provided by InstaForex Company - www.instaforex.com