Pro-EU publications have breathed a sigh of relief on the ruling. However. Brexit proponent and former leader of the U.K. Independence Party, Nigel Farage said that the U.K. is now heading for a "half Brexit" and told BBC radio that he was "becoming increasingly worried."
Meanwhile, Jeremy Corbyn, the leader of the opposition Labour Party said that must be "transparency and accountability to parliament on the terms of Brexit." He added in a statement that Labour would be pressing the case for a Brexit that "works for Britain, putting jobs, living standards and the economy first."
Sterling rose higher on the decision with investors seemingly pricing in the odds that the U.K. will now see a "softer" Brexit or indeed, no Brexit at all. Ken Odeluga, a market analyst at U.K. spread better City Index said that the court ruling had "set the cat amongst the pigeons with its dramatic ruling."
However, with the government already announcing that it would appeal the decision, Odeluga predicts that the pound's strength might not last.
"The appeal, which appears likely to be held in December, will drag out any process of resolution of the government's powers under law regarding 'Article 50', even as its resolve to carry out Brexit in spirit and in fact remains undiminished," he said in a note.
"That points to little let-up in sterling volatility, and in turn suggests Thursday's significant strengthening of the pound may not last," he added.