Ahead of the big date : 29 March 2019, the pair has shown to be increasingly volatile with highs of approx. 1.3350 & lows of 1.2500 due to uncertainty in the market related to a no deal Brexit. We anticipate that Brexit will be further delayed as Betfair is offering 1.2 for the UK to not leave the EU by the 29/3/19 and 5.7 for otherwise. A delayed Brexit would be bullish for the pair as the "fear" relating to a no deal Brexit would be temporary postponed.
Entry at this price is possible but carries a high risk as support is weak at this level.