GBP/USD is still trading within a downward sloping trend as a result of the recent government turmoil and no progress on the Brexit deal for the UK.
Following the government’s decision to defer the house of commons vote on the proposed deal, GBP/USD has fallen to lows of @1,2504 on the 12th December from a recent high of @1.3175 on November 7th, a fall in the region of 5%. Currently trading at @1.2565 after today’s release of some strong retail data in the US, the market indicates there will be no end to the downward zig-zag trend, unless any progression is made in the Brexit negotiations.
