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GBP/USD falls to test 1.27

Following on from the previous update, noting the drop back in the GBP/USD and EUR/USD, the pound has been the one to feel the most heat of the further rebound in the USD/JPY. The GBP/USD has now surpassed the low at 1.2713 seen yesterday, despite rebounding from that earlier this morning. The low seen a short while ago was set at 1.2701, which does suggest some stops might have been in place below 1.2713. The drive lower in the GBP/USD has pushed the EUR/GBP back to test the 0.8700 handle on the EUR/GBP and that is because the downside in the GBP/USD has outpaced that seen in the EUR/USD. The GBP/USD is currently trading at 1.2705
 

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