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Forex: GBP/USD intensify the sell-off, around 1.5415/20

The sterling is accelerating its downside on Tuesday threatening the key support at 1.5400 as the sell-off is gathering pace. There has been some unconfirmed market chat about the UK losing its AAA status practically the whole session, prompting investors to rapidly unwind positions in GBP.

As of writing, the cross is losing 0.30% at 1.5419 with the next support at 1.5393 (low Jul.12) ahead of 1.5375 (low Jun.6).
On the upside, a breakout of 1.5544 (high Feb.14) would target 1.5550 (high Feb.15) and then 1.5598 (MA10d).

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