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GBP/USD extends rise close to 1.2700

As the morning has unfolded and the pound continues to make headway, the GBP/USD has now lifted close to the 1.27 handle again. The move higher comes as the USD/JPY comes off the boil and so far rejects a rise above 148. At the same time the GBP/JPY has remained elevated and lifted above 187.25. The further rise in the pound is keeping the FTSE 100 under pressure and as of now there has been no discernible rebound in the UK stock market. The GBP/USD has just now set a session high at 1.2696. The next technical level of note is now close by too and that is the 21 day moving average, right now in place at 1.2709. The GBP/USD is currently trading at 1.2690 
 

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