Rotten day for the pound
I don't think Theresa May is going to blow this election but the market is suddenly very worried.
The latest swoon has now edged below the minor trendline that began in mid-March.
The big gain in mid-April was the decision to call an election. The post-election call low low was on April 21 at 1.2754 and that's the big level to watch now.
With the UK and US headed for a long weekend, I think it's safe until Tuesday. And even if it breaks, I wouldn't put much stock in action in a holiday market.
