The fundamental risk of Brexit triggering a financial crisis in the UK is eating away at investor confidence in sterling, even though charts are more ambiguous.
The GBP/USD pair has formed a three wave correction higher and has reached a critical turning point in the trend.
Sterling’s attempt at a recovery has been stopped in its tracks after the release of strong Canadian data - Bank of Canada rate meeting on tomorrow (Thursday 19).
One analyst warns that Sterling is due another big fall against the Euro.
A mixture of cautiously bullish technical indicators and the possibility of a softer Brexit could open up a recovery in the GBP/EUR pair.
The GBP/ZAR pair surged on Tuesday after reports Finance Minister Pravin Gordhan was being investigated for fraud, sent the rand into a tailspin and chimed with technical overtures that the...