Never miss a story from David Rodriguez

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to David Rodriguez

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

British Pound Has Plummeted - Here's What We’re Watching Next

British Pound Has Plummeted - Here's What We’re Watching Next

Fundamental Forecast for Pound: Bearish

- British Pound matches most oversold condition since height of financial crisis

- See the full video for a complete rundown for what’s at stake

- For Real-Time Updates and Potential Trade Setups on the British Pound, sign up for DailyFX on Demand

The British Pound thundered lower versus the US Dollar, reaching its most oversold conditions since the height of the financial crisis. With such one-sided positions there’s substantial risk of a bounce, but great uncertainty in the weeks ahead warns against buying just yet.

A relatively empty economic calendar for both the UK and the US suggests that the Sterling might catch a break. Yet we’ll need to keep a close eye on official commentary ahead of the highly-anticipated Scottish referendum just two weeks away. At stake is whether Scotland remains in the United Kingdom. And a surge in two-week volatility prices warns of nervous trading conditions ahead.

The British currency could very well consolidate or bounce in the days ahead, but there remains clear risk of continued weakness. See the video for a full rundown of what we’re watching. - DR

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.

Contact and follow David via Twitter: https://twitter.com/DRodriguezFX