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Saunders sends the pound to a new daily bottom

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Saunders' statement was dovish, triggering a sale at the pound. Sellers have seized all control for now, but the price is already meeting support at 1.22695. The next support is at 1.22500, which is psychological, and we expect it to be reached amid the dovish sentiment.

We have new information from BoE, which is of great importance.

Saunders stated that:

  • Interest rates can go either way after Brexit
  • Brexit uncertainty is opening up more and more cracks in the economy
  • Defending monetary policy against Brexit can prove unhealthy for the economy
  • BoE's next move is likely to be a cut in interest rates, even if the No - deal Brexit is avoided

 Trader Martin Nikolov

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