GBP/USD falls to fresh lows for the year at 1.2355
Of note, price is contesting with daily support from the swing region seen back in March-April 2017 around 1.2351-77. If we fall below that, sellers will then be aiming towards the March 2017 low of 1.2110 next.
It has been a rough July for the pound as it is the weakest performing major currency, down by 2.7% thus far. Add to the fact that prospects of a no-deal Brexit have increased in the past week and weekend comments by Boris Johnson’s ‘dream team’ have not helped sentiment whatsoever in that department.
As mentioned here, there isn’t much going right for the currency now and the only plausible supportive factor isn’t exactly great.