Special report: Sterling Pounded – How Much Lower?
Technically, Monday's Cable break to a fresh 7 year low below the previous 1.4080 low from January was a significant development, as it confirmed a lower top at the 1.4668 February high and opened the door for this next major downside extension. So where are we headed now?
Next 24 hours: No Bottom for Sterling Just Yet, UK GDP Ahead
Another day, another round of underperformance in the Pound, with Cable sinking to a fresh seven year low, this time well below 1.4000. Meanwhile, the Swiss Franc was the top performer on safe haven flow, with the Yen not too far behind. Otherwise, the Euro looked to settle above 1.1000. UK GDP and US durable goods featured on Thursday.