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May, 22 - GBP/USD is plunging with horrific speed

It seems that political turmoil in the UK that seemed to be over yesterday was just taking a breather before taking us all down today. After all it seemed that we were on the verge of meeting the new Brexit deal and now there are rumors that Theresa May may not even see another parliament meeting in her PM role as she might be ousted from her position as early as this weekend. Such was the message delivered to us by UK Environment Secretary. And it is only natural that news like that are scaring traders into a very heavy selloff of GBP. Right now the situation is very unstable.

 

gbpusd 22.05.2019

 

GBP had a possibility to grow against the greenback yesterday but that was all due to the fall of the greenback. Now that USD is trying to get its strength back GBP is pressed lower. And this new political development is not helping the situation.

 

The downtrend is so strong that trading GBP/USD is very scary today. Should we go long or short? Trading signals are going to give us all the answers!

 

 

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