The British Pound has plunged to its lowest level against the US Dollar since April, breaking below the 1.3200 threshold during Friday’s Asian trading session. The GBP/USD pair extended losses for a third consecutive day as mounting UK political turmoil weighs heavily on sterling sentiment. The selling pressure comes as domestic political uncertainty intensifies, coinciding with persistent US Dollar strength across global currency markets.
Traders are dumping sterling amid concerns that Britain’s latest political crisis could destabilize economic policy and investor confidence. The three-day decline reflects growing nervousness among forex participants about the Pound’s near-term trajectory. The move below 1.3200 represents a significant technical breakdown, with currency strategists watching closely for further deterioration. Market participants across London and international trading desks are repositioning portfolios in response to the accelerating sell-off.
FXnCO Insight
Forex traders should monitor 1.3150 as the next critical support level for GBP/USD, with protective stops advisable above recent highs given the current political risk premium.
Source: FXStreet