Big falls in the GBP pairs
The GBP continues to hit the skids. The major pairs against the pound are trading at extremes. The GBPUSD is now down -228 pips, The GBPJPY is down -250 pips, The EURGBP is up 152 pips. Those are big moves.
Earlier today there was a report that Boris Johnson will add a revision to the Brexit bill that would explicitly rule out any extension to the transition period beyond December 2020.
Technically, the GBPUSD is testing a swing area at the 1.30998 to 1.3111 area.
The EURGBP has now retraced the fall down from last week's highs (and erased the UK vote tumble (see 4 hour chart below). The pair trades between its 100 bar moving average on the 4 hour chart at 0.8467 and its 200 bar moving average on the 4 hour chart at 0.85273.
