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GBP/USD falls back towards technical support at 1.2546

Yesterday the fall back in the dollar helped the GBP/USD push closer to the 1.26 handle again. However, the rise from the session low at 1.2537 stalled at 1.2595 as the US stock markets reopened. The Pound later drifted back into the US close, where it later ended that session at 1.2562. It has not made any further progress yet today. The high seen during the Asian session was set at 1.2571. It has edged down to a low so far at 1.2547 and it seems the rebound in the USD/JPY today has weighed on the GBP/JPY, despite a further rebound in the GBP/JPY, to above 194 earlier. The move lower in the GBP/USD is pushing it close to the 200 day moving average once again, in place this morning at 1.2546. That might provide support, but it is not certain and looks like being tested any minute now. The GBP/USD is currently trading at 1.2548

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