Pound hammered as Brexit talks collapse

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It was already a terrible trading week for the British Pound thanks to the political risk circus in Westminster and Brexit related uncertainty.

Recent reports of cross-party talks between the Conservative and Labour party concluding without a deal has compounded to the Pounds woes today. With the failure of cross-party talks and Theresa Mays impending departure fueling concerns over the UK potentially crashing out the EU without a deal in October, Pound weakness is likely to remain a dominant theme.

In regards to the technical picture, the GBPUSD is bearish on the daily and weekly… Read More:

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