British Pound Gets a Pounding

As patience grows thin on PM Theresa May's tenure and Brexit deal, global traders have put a beating on the British Pound, sending the $GBPUSD to fresh new lows for the year. 

To add more fuel to the fire, on a technical level, prices remain firmly below the 10-Day EMA without any sign of a reversal. 

With a political crisis looming, we see more downside for the $GBPUSD, with the currency pair trading as low as $GBPUSD 1.25 in a few weeks time.