As patience grows thin on PM Theresa May's tenure and Brexit deal, global traders have put a beating on the British Pound, sending the GBPUSD to fresh new lows for the year.
To add more fuel to the fire, on a technical level, prices remain firmly below the 10-Day EMA without any sign of a reversal.
With a political crisis looming, we see more downside for the GBPUSD, with the currency pair trading as low as GBPUSD 1.25 in a few weeks time