GBP/USD eyes levels not seen since 1985 when the pair hit an all-time low of 1.0520 – MUFG

FXStreet Insights Team FXStreet

GBP/USD has broken below the 1.1406 low, and economists at MUFG Bank see that as a sign that the pair could nosedive towards the all-time low of 1.0520.

Bleak UK economic outlook

“GBP/USD has further to fall in circumstances of increased financial market volatility given the UK’s budget + current account deficit combined is set to head toward an eye-watering 15% of GDP downside GBP pressure will persist.”

“A break below the low of 1.1406 will take us to levels not seen since 1985 when GBP/USD hit an all-time low of 1.0520.”

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FXStreet Insights Team

FXStreet

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