The British pound continues to come under selling pressure as the UK grapples with high inflation, caused by high energy prices, supply chain issues, and a cost of living crisis forcing consumers to lose confidence in their future economic prospects and drastically cut back on spending.
The UK economy is expected to fall into a recession, whilst a recession in the US is still under debate given the strength in the labor market.
I am looking at taking a short sell position below $1.28 on the exchange rate.