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GBP/USD comes under further pressure as it takes out lows seen yesterday

The pound has been under pressure all morning so far and since the release of that disappointing UK GDP data it has not managed to bounce much at all. In fact, it has just this minute fallen to a new low on the day, surpassing the low seen yesterday afternoon, at 1.2514. The previous interim low before that was set at 1.2501 and so that is not the next line of defence. The move lower in the GBP/USD comes as the EUR/USD also drifts to session lows around 1.0775, at the same time as the EUR/GBP remains elevated above 0.8610. The low seen so far on the GBP/USD has just been set at 1.2512. It is currently trading at 1.2515 

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