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July, 17 - GBP/USD is weathering the worst day since 2017

The great fall of the pound – that is the only possible way to describe what is going on with the British currency today. There is simply too much of everything covering GBP’s plate and we need to understand that the recovery might not come as fast and swift as we were hoping it to. What is going on with pound? Well aside from political turbulence in the country and controversy surrounding the most likely candidate for the Prime Minister position – Boris Johnson it is in front of our eyes that GBP is falling victim to today’s strong performance of USD.

 

gbpusd 17.07.2019

 

That’s right American currency found new speed and new strength to recover from the fall last week. And Powell’s speech having delivered no news on the future of USD did nothing to save other currencies from humiliating fate of losing points like we see they do right now. GBP is nearing the lowest point and the worst performance in almost 2 years already having hit the worst price point since April 2017.

 

Trading pound right now is extremely volatile and extremely dangerous at the moment. There is nothing we can do help its recovery besides using trading signals and waiting.

 

 

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