GBP/USD (current price: 1.2975)
The pair continued lower again on Thursday, as investors continue to focus on the risks of the Brexit vote that effect the real estate market, consumer confidence, and corporate investments already despite the fact that the British exit won’t happen until at least mid-2017. Cable fell below the all-important 1.30 level yet again, and the prior lows look to be in danger despite the relative strength that the pair showed earlier on this week.
Our assessment: GBP/USD is still in a broad trading range, but the lower boundary if the range is getting closer as the pair is back below the prior 30-year low near 1.30.
