GBP/USD slumps on Brexit announcement
The prime minister’s announcements on Brexit have sent sterling heading lower once again, with the August low of $1.2865 now being tested. Below this it is just a short journey to the July low at $1.2796, and then from here we are into levels not seen since the mid-1980s.
For now it certainly looks like the sellers are in control, so unless the pair moves back above $1.29 bulls are likely to be disappointed. Resistance is likely around $1.2915 and then $1.2945.