Today, the Cable sank below $1.39 for the first time since March 2009. As the world worries about the financial health of Britain, Prime Minister David Cameron announced June 23rd as the date the U.K. votes about its position with the European Union. Given that scenario, most Bloomberg economists (29 out of 34 as of the date of this article) believe the pound will drop to below $1.35.
It is expected that as long as the market continues worried about the outcome, the GBP will show continued weakness and vulnerability. This opinion is not across the board though, and other economists believe that the sterling still has room for growth.
At ForexSignal.com, we are closely watching the markets and observing potential price action that could reveal changes in the market trend. Our goal is to provide quality Forex signals to Forex Signal and Trade Copier clients all over the world.
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