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Sterling Falls To A 35-Year Low

Posted On 19 Mar 2020
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The pound sterling gave way as it weakened sharply against the dollar.

Losing over 4% on the day, GBPUSD fell to the lowest levels since 1985.

This comes as the 1.2000 handle broke away and offered little support.

Price action in the GBPUSD is now near 1.1600. If this level holds, we might see a reversal in the short term.

However, it is a bit too early to expect any meaningful retracements.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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