Whatever it is about the pound, it seems to fall harder than any other currency. Yesterdays almost 500 pip collapse in the cable is unlikely to be a random stand-alone event. If history is anything to go by, then we will see more falls of a similar nature in coming weeks. That said, I wouldn’t sell here as the pullbacks will also be particularly fierce. Sell stupid rallies and then leave what you think are silly take-profit levels; they’ll probably be achieved.