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The British pound has just hit a new post-Brexit low of 1.3220 as of writing. The United Kingdom’s currency continues its free-fall in the aftermath of the referendum results to exit the European Union. Sterling has been underperforming against virtually all currencies on Monday with the increasing uncertainty about the future of the country wreaking havoc across the financial markets.
A panic selloff of the pound sterling is increasingly likely with a major trend line on a very long term chart in the eyesights of smart money traders. The GBP/USD has been relentless in its decline this morning after the market gapped down over 2 ... (read more)