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GBP/USD dips below 1.27

The pound has fallen back versus the stronger dollar this morning and that has now seen the GBP/USD drop below the noted support in place just above 1.2710. The price is now edging lower, underneath the 1.2700 handle and therefore closer to the next potential support level, at 1.2686. The GBP/USD closed in the US last night at 1.2729. The first support, at 1.2715 (current 21 day moving average) has now been taken out and that lower level noted, at 1.2686 is right now where the 50 day moving average is in place this morning. The GBP/USD is just now at session lows, at 1.2695 

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