The UK pound's losses incurred by the increasing fears of a no-deal Brexit hit a six-month low on Tuesday. The bearish bias seems rather strong even after that point. However, the race for the top join in the UK still goes on and the winner, although most likely to be Johnson, is yet to be announced later next week. Until then, potential further signs from US Federal Reserve officials many of whom are set to speak in the coming days will ease the pressure on the sterling. 1.2450 will be important in the upward direction. Once broken we will follow 1.2470 and later 1.2500 as a medium-term target before the pricing starts once again to go down due to the risks associated with the macro factor called Brexit.