Towards the end of last month, I remarked that the GBP/USD does not have a favourable risk-reward profile at this point in time.
My reason for making this argument was that the currency stands to have significant downside if a Brexit deal is not struck, but limited upside if it is.
That said, since March we have been seeing the GBP/USD slowly but steadily appreciate:
Source: investing.com
With the United States being the world’s worst-hit country in terms of COVID-19 cases, we have seen the greenback depreciate significantly in the past couple of months. In