Cable falls to 1.1972, its lowest level since October 2016
Price is now starting to move below the January 2017 low of 1.1986 in a further track under the 1.2000 handle. The pound continues to stay pressured amid political uncertainty and a firmer dollar isn't really helping to see cable get much reprieve today.
This isn't the best time to try catching a falling knife and even if there are mildly positive Brexit headlines, I'd be a bit wary. It's going to be a volatile time over the next 24-48 hours and even an election call may not necessarily end well for the pound.
The October 2016 low sits at 1.1841 and that will be the next key support level that sellers will be eyeing on the way down. But as mentioned above, it may not be a straightforward drop from here as there's still plenty of Brexit headlines to navigate through.
