• The pound is losing one of its last lines of defense, heading into 2020 and all time low towards 1.14 • Political turmoil, recession fears, FED-BOE policy divergence are factors driving the pair lower • Level 1.19 major support level got broken • Bears are now targeting 2020 low at 1.14. Meanwhile, 1.15-1.17 area might provide some support and hold the slump for some while • First hurdle for the bulls is the 1.20 level, a close above it is needed for the trend to start turning bullish