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Beecroft: Sterling struggles amid election uncertainty

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In less than four weeks, British voters go to the polls to choose the new UK government. But as the outcome is far from certain, Sterling is taking a battering. This Friday the pound fell below 1.46 against the US Dollar for the first time since June 2010. 

Nick Beecroft, Chairman of Saxo Capital markets, says he's short on GBPUSD and can see cable falling further over the next few weeks. He says there are a number of election outcomes which are sterling negative, including a Conservative party victory, due to the uncertainty over an EU referendum.

He reminds viewers that he's already discussed GBPUSD falling to 1.30 and thinks 1.25 is certainly a possibility.