The cross advances further and tests the 0.8600 area. PM Theresa May’s government faces critical hours. UK Parliament looks to take control of Brexit negotiations. The Sterling came under further downside pressure at the beginning of the week and has lifted EUR/GBP to fresh tops in the 0.8600 neighbourhood. EUR/GBP looks to Brexit, UK government The European cross is partially reversing Friday’s sharp pullback, although the bullish attempt appears to have met a tough resistance around the 0.8600 milestone. Crucial days for the British Pound lies ahead, as a third meaningful vote on PM May’s plan to leave the UK (MV3) is expected later in the week (Tuesday?). However, the focus of attention has now shifted to the increasing political effervescence surrounding May’s government and intentions of the Parliament to take over Brexit negotiations. In the meantime, PM May will meet with her Cabinet later today prior to a discuss of her recent trip to Brussels at the House of Commons. Furthermore, Wednesday could be a key day as the House of Commons is expected to vote on a series of ‘indicative votes’ put forward by MPs O.Letwin, D.Grieve and H.Benn which aim to take over the negotiations. A progress of this motion carries the potential to open the door for PM May to step down. What to look for around GBP Upcoming discussions at the House of Commons will be key for the performance in the Sterling and the Brexit negotiations, including the palpable possibility that Theresa May could resign as Prime Minister. A third meaningful vote (MV3) is expected at some point later in the week, while May continues to seek support for her plan among MPs. EUR/GBP key levels The cross is gaining 0.29% at 0.8577 facing the next hurdle at 0.8706 (55-day SMA) seconded by 0.8722 (high Mar.22) and finally 0.8839 (200-day SMA). On the flip side, the breach of 0.8532 (low Mar.22) would expose 0.8471 (2019 low Mar.13) and then 0.8402 (monthly low Feb.22 2017). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD Technical Analysis: Intraday positive move falters near 50-hour SMA, ahead of 0.7100 handle FX Street 4 years The cross advances further and tests the 0.8600 area. PM Theresa May's government faces critical hours. UK Parliament looks to take control of Brexit negotiations. The Sterling came under further downside pressure at the beginning of the week and has lifted EUR/GBP to fresh tops in the 0.8600 neighbourhood. EUR/GBP looks to Brexit, UK government The European cross is partially reversing Friday's sharp pullback, although the bullish attempt appears to have met a tough resistance around the 0.8600 milestone. Crucial days for the British Pound lies ahead, as a third meaningful vote on PM May's plan to leave the UK… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.