If Pressley is on a rolling contract, then there is nothing to stop the board giving him his notice now. That in turn would make his position pretty untenable, with the knowledge that he is no longer wanted by the club. Chances are he would negotiate a settlement (working out at much less than a years wages). Even if he doesn't take the hint, it would mean he can see out the season and get the elbow in the summer with only 6-8 months on the contract.
But lets look at the facts. So far we only have the Daily Record's word that he is on a rolling contract. Doesn't seem like the sort of contract a club our size would give out. Could the Record have got it wrong.
There is something we're all forgetting though. We might go up to Dundee, get a win and head off on an amazing run culminating in a win at EEP on the last day of the season to win the league.