GBPUSD was one of the worst performing pairs of the week. The main reason of GBP selling has been the political uncertainty in the UK, which clouds the outlook for successful resolutions of the multiple critical accords the UK must yet to reach with the EU. UK Prime Minister Theresa May’s potential resignation and a Conservative leadership election, at this stage only vague rumours, have taken its toll in the Pound.

Both fundamentally and technically, GBP/USD looks set for further falls. However, we look for a correction at some point. The main question is where/ when.




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