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villakram

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Breaking: GBP/USD plunges: GBP/USD plunges below 1.19, down over 1,300 in 9 days as severe recession feared 

 

GBP/USD has been extending its downfall and has dropped below 1.19, falling to levels last seen in October 2016, during a flash crash. At the time of writing, cable has reached a low of 1.0877 with a limited bounce. It traded near 1.32 on March 19, a fall of over 1,300 pips in nine days. 

The coronavirus crisis is weighing heavily on markets with forecasts of a severe recession coming. UK Prime Minister Boris Johnson spoke of a "wartime government."

See: Three reasons for the sell-off, with the bottom out of sight

Here is how the crash looks on the daily chart: 

GBP USD below 1.19 March 18 2019

The daily chart comes in handy amid the fall. The currency pair is down to the lowest since October 2016, when it suffered a flash crash. The Relative Strength Index is well below 30, indicating extreme oversold conditions, but abnormal conditions mean it could continue lower.  Support awaits at 1.18 and 1.17. 

https://www.fxstreet.com/news/breaking-gbp-usd-plunges-below-119-down-over-1-300-in-9-days-202003181137 

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Morrisons this morning wasn't too bad. The only things on my list that were totally sold out were lentils and tinned tomatoes. Surprisingly, their cafe was open - and full of old folks. 

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Schools closing Scotland and Wales on Friday. I guess we’ll follow suit too.

Edited by jim
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18 hours ago, markavfc40 said:

 

The government need to show clear leadership and not send out mixed half arsed messages.

At our kids school years 7,8,9 aren't at school, years 10,11 and 6th form are. 

So in our household we have 1 off and the other at school. 

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11 minutes ago, mjmooney said:

 Surprisingly, their cafe was open - and full of old folks. 

That’s a good point , has anyone considered the impact on motorway service stations and garden centre cafes if all the old folk have to self isolate ?

Edited by tonyh29
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3 hours ago, lapal_fan said:

Cricket really shouldn't be a problem as long as you're not in close proximity to others - so maybe don't spin bowl so the wicket keeper can stand off the batsmen ;) 

Sadly not true. What with the method of polishing the ball, the ball being thrown from fielder to fielder, the ball going into the crowd, the players changing rooms being a cramped mess of kit everywhere....

Cricketers should be allowed to be immune so we can have the best sport carry on and I can be less bored.

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So a potential client just ask me if im still able to perform "Under Pressure" 

I replied no but i can do "We are the Champions" :trollface:

Edited by Kingman
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6 minutes ago, tonyh29 said:

That’s a good point , has anyone considered the impact on motorway service stations and garden centre cafes if all the old folk have to self isolate ?

there's going to be a lot of unsold mini scarecrows outside a lot of WH Smiths if those coach parties stop

me might even see a genuine sale at Cotton Traders

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3 minutes ago, blandy said:

Sadly not true. What with the method of polishing the ball, the ball being thrown from fielder to fielder, the ball going into the crowd, the players changing rooms being a cramped mess of kit everywhere....

Cricketers should be allowed to be immune so we can have the best sport carry on and I can be less bored.

Luckily, I think I should be ok for a game of golf every now and again to keep me entertained. 

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11 minutes ago, chrisp65 said:

there's going to be a lot of unsold mini scarecrows outside a lot of WH Smiths if those coach parties stop

me might even see a genuine sale at Cotton Traders

I suspect that the Edinburgh Woollen Mill will go under, though! 

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