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GBP/USD Price Forecast - British pound breaks down as more drama unfolds in London
The British pound continues to look very soft and was six cabinet members resigning in the last 24 hours in reaction to the Brexit deal tells me that we are nowhere near some type of deal, and the idea of a “no deal Brexit” is starting to become even more likely. At this point, the 1.27 level underneath continues offer support, but if we were to break down below there, I believe that the triangle that I have marked on the chart signifies that we will probably go down to the 1.22 handle. Obviously, this can change with the occasional headline, but one thing that seems to be sure about the British pound lately is ... (full story)