Pound faces intense selling pressure
The prospect of a ‘No Deal Brexit’ has driven Sterling down in recent sessions.
Where now for Sterling?
Technical analysts point to intense selling pressure in Sterling.
Any subsequent positive move is likely to confront strong resistance near a short-term descending trend.
Sentiment around the Pound is being driven by the chances of a no-deal Brexit.
GBP investors are becoming increasingly jittery.
The penultimate round of Brexit talks are underway.
All scenarios are feasible; however Sterling’s recent rally makes it susceptible to further losses.
If you have a requirement to purchase EUR or USD from GBP, please consider current levels as the Pound is still reasonably strong compared to recent history.
Contact our trading department on 01872 487 500 and they will be able to assist.
Or to find out current exchange rates, please request a quote below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Tuesday 8th September 2020 at 10:20
£1.00 GBP = 1.1085 EURO
£1.00 GBP = 1.3090 USD
£1.00 GBP = 1.8023 AUD
£1.00 GBP = 1.9635 NZD
£1.00 GBP = 1.7199 CAD
£1.00 GBP = 22.0766 ZAR
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