Sterling has depreciated against every single G10 currency this week and is currently trading around 1.3060 against the Dollar. With the road ahead for the Pound filled with many obstacles and uncertainty, the path of least resistance points south.
In regards to the technical picture, the GBPUSD is bearish on the daily charts. Bears remain in control on the daily timeframe with the next key points of interest at 1.3000 and 1.2830.
Safe-haven currencies such as the Japanese Yen and Dollar appreciated on Friday as geopolitical tensions stimulated risk aversion.
The Greenback stood tall against other G10 currencies with the Dollar Index trading towards 96.76 as of writing. With uncertainty in the air and investors keep a safe-distance from riskier assets, the Dollar is poised to extend gains.
Technical traders will continue to observe how the Dollar Index behaves around 96.80. A breakout above this level should encourage a move towards 97.20.
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