Pound sinks further on rising fear of no-deal Brexit

Cable falls by more than 1% now

It's very much blink and you miss it for the pound now. The quid is taking a big tumble as cable falls back below 1.2200 and hitting a session low of 1.2157.

Price is now back under the 200-hour MA (blue line) @ 1.2192 on the back of mounting fear of a no-deal Brexit in the coming weeks.

At this point, a move to test the 1.2000 handle once again wouldn't be too far-fetched.