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GBP/USD falls towards 1.2350 as FTSE 100 eyes 8k once more

The fall in oil prices this morning has extended since the last update here noted that Brent crude was under pressure. So, Brent has now dropped below $86 per barrel and so far that has not dented the FTSE 100. As also noted here earlier, that index future was on the charge and that has now transposed itself into live trading, as the index eyes the 8k level in the first 30 minutes of live trade. At the same time the FTSE seems to have garnered support from the lower Pound, which appears to be eclipsing any losses in the oil price. That is because the Pound is lower due to the fall in UK Gilt yields. Those lower yields are also supporting the FTSE 100 of course. The GBP/USD is also under pressure from further upside right now in the EUR/GBP. That is now lifting to fresh session highs around 0.8625, as it extends on the technically positive close it set on Friday. The GBP/USD is right now on session lows, currently trading at 1.2351 
 

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