GBP/USD falls back close to its lowest levels of the week

The dollar is fighting its way higher again just now. The GBP/USD came close to the 1.27 handle again before and after the US data releases. However, since then it has been falling back and just now it hit a fresh session low at 1.2634. The move lower comes as the rebound in the EUR/USD also blows out and above 1.0690 and falls back underneath 1.0650. The outlook for the Pound remains negative here, as much as it is wished otherwise. The only thing that might change that would be a sustained recovery back above 1.2770, as noted here a couple of times this week. well, right now that does not look like happening at all this side of the weekend. If anything the opposite would seem to apply. The low seen yesterday was set at 1.2630 and as you can see, the Pound is not far off that low right now, currently trading at 1.2638