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GBP/USD holds 1.2665 for now and rebounds
Yesterday the GBP/USD fell to a fresh interim low at 1.2687.It later posted a US close at 1.2708. Earlier today the Pound fell back again and set a session low so far, at 1.2673. That was a fresh interim low too, but it was just above the noted August 8 low, at 1.2665. So, it seems there are some buyers in place just ahead of that potential support level for the time being. The rebound so far is hardly conclusive at this stage though and only above 1.2770 from here on might make it more so. The dollar is of course the driver for the current downside move and that remains the most likely key to where the Pound might trade from here on. However, this evening the Chancellor, Rachel Reeves will deliver her eagerly awaited Mansion House speech and that could tip the balance, depending on what emerges there. The high seen earlier today was set at 1.2716. The GBP/USD is currently trading at 1.2689
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