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GBP/USD hits session low as EUR/GBP finally vaults 0.8700

Since rising earlier this morning to a new rebound high at 1.2827, the GBP/USD has been falling back steadily for the past 4 hours. That has delivered a move to a session low just now at 1.2768. The move lower comes alongside a relapse in the EUR/USDf at the same time, as that drifts back from an earlier high at 1.1139 towards 1.1110. However, the fall in the pound has outpaced the EUR/USD because the EUR/GBP has now risen above the 0.8700 handle. In the process of doing that it has surpassed a series of prior interim tops just a pip or two below that level. That could lead the price to extend a bit more. It is currently trading at 0.8703 

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