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GBP/USD clings to support at 1.2629 and edges higher

Earlier this afternoon the GBP/USD came very close to falling below the previously noted interim low, at 1.2629. However, so far that has held, with the low this session being set at 1.2630. The pound just now lifted back above 1.2650. So, the support at 1.2629 has capped further downside at the first time of asking, but ruling out another attempt on the downside right now would appear short-sighted. Much could depend on the price action in the EUR/GBP and the GBP/JPY, as to whether this modest rebound can extend. There is a risk that once again, any rally much above the current levels will be met by sellers once more. We shall see on that. The GBP/USD is currently trading at 1.2647 
 

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