Yesterday afternoon the GBP/USD managed to hold its ground above 1.22 into the US close. That was despite more general dollar strength and a fall below 1.06 in the EUR/USD. The GBP/USD did fall to as low as 1.2194, but held the US close above 1.22, ending that session at 1.2211. However, it has come under pressure again today and that has now delivered a new 6 Month low for the pound. The low seen so far has been set not long ago at 1.2177. The pound is therefore tracking ever closer to a level previously highlighted here, at 1.2075. That is very much on the radar now, but remains some way south of the prevailing price. This level is important though and increasingly looks like a potential support and first target on the downside. The GBP/USD is just now trading at 1.2180
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