GBP/USD New Low

GBP/USD made a new low today even lower than the after effect of the Brexit sell off. Immediately after the results of the Brexit referendum were published, GBP/USD fell double-digit percent from 1.50 to 1.3227 and a few days later the bottom came at 1.2795.

Today, the pair has gone under that 30-year low and reached a low of 1.2740. All GBP pairs are affected by the depreciating of the UK currency and as a result those pairs are making historical highs or low depending on which side the Sterling is.

Current market price of GBP/USD is 1.2750 which is already below support and that can be interpreted as an early indicator of a progressive selling that will occur in the days to come.

Staying out of the market right now might prove to be the only solution for preserving your capital.

Chart: GBP/USD D1