Battered Pound takes another hit   


18 June 2019 : Investors who were looking for a fresh opportunity to attack the Pound were given the thumbs up yesterday on rising concerns that the leading candidate Boris Johnson, risks steering Britain towards the path of a no-deal Brexit should he become Prime Minister.


The past few days have certainly not been kind to the battered Pound which tumbled to a fresh 2019 low below 1.2520 earlier this morning. With the terrible combination of Brexit uncertainty and political risk in the UK haunting investor attraction towards Sterling, the path of least resistance points south.


Taking a look at the technical picture, the GBPUSD is under intense selling pressure on the daily charts. A breakdown below 1.2500 is seen opening a path towards 1.2430.


Reporting for EasyKobo on Tuesday , 18 June 2019 in Lagos, Nigeria


Source: Lukman Otunuga, Research Analyst at FXTM


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