I would like to believe this but its not so straighfoward considering that daily spot turnover in GBP/USD is around 110Bn, the deal would be done in one day with a big spike.Ofcourse they distributed it for some days and that would cause GBP to be ...
I don't think it is Bad weather story fatigue. It seems like the Verizon deal was finally done, and with the cross-flows behind us the sell-off sets in as there is no need to speculate on a higher GBP. It looks like it the bull rally is over for now