The GBPUSD pair remains on the defensive ahead of the London open despite the overnight slide in the US treasury yields.
The British pound has taken a heavy tumble from the 1.2200 level against the US dollar, leaving the multi-year low for the pair exposed.
The GBPUSD pair has temporarily stopped the bleeding by finding support at 1.2120, pushing the price to settle around 1.2150s.
The British pound has continued to plummet lower against US dollar as Brexit no-deal fears intensify across financial markets.
EURGBP keeps losing momentum this week and is now threatening to test the key support at 0.8900 the figure.
British pound stages a solid rebound above the 1.2500 level against the US dollar on Wednesday, after bears failed to hold price below the 1.2440 level.
British pound stays under downside pressure and it’s getting ready for a possible more weakness depending on today’s fundamental catalyst.
The British pound continues to recovery against the greenback after the pair found solid technical support from the key 1.2380 level.