Last month, I made the argument that the GBP/USD would continue to trend downwards based on the anticipated economic damage from COVID-19 as well as the growing risks of a no-deal Brexit.
While the currency did trend downwards through May, it eventually recovered to a peak of 1.28 before retreating once again.
Source: investing.com
However, the currency has been seeing a more or less continual decline against the euro since the beginning of May:
Source: investing.com
The prospect of a no-deal Brexit is looming ever larger - even if COVID-19 may have pushed this to