GBP/USD graph
With the better than expected GDP reading failing to lift investor confidence, it is becoming increasingly obvious that positive economic data is going to have very little impact on the pounds
value.
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The political uncertainty surrounding the UK's exit from the EU looks set to carry on, and until Article 50 is invoked and we get a clearer picture about any potential deal I think the pound will continue to struggle.
Sterling has lost around twenty per cent against the U.S. dollar since the referendum result and I for one would not be surprised if the GBP/USD cross fell even further.
There is a real possibility we could see a fresh thirty-one year low in the coming weeks, especially if the U.S. Federal Reserve increase interest rates before the end of the year.
If the UK government push ahead with a so called "hard Brexit" and the Fed decide to hike rates in December, GBP/USD could finds itself trading around $1.15 in the not to distant future.
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