GBP/USD not impressing much this morning as Year-End fix looms

The Pound is not exactly knocking out of the park this morning. The GBP/USD is tracking back towards 1.25 again and the EUR/GBP is trading back above 0.8300. The rebound from the most recent low, at 1.2476, to above 1.26 last week (1.2614 the high) has been followed by a downside drift which led the GBP/USD to a US close last night, at 1.2525. The range seen so far today has been covered by 1.2535 to 1.2519. Perhaps we can conclude; any move outside of 1.2476 or 1.2614 could lead to a price extension either side. One important thing to consider today, is that it is the spot month-end for trades to settle on Tuesday December 31. Now that has potentially big implications for all the major pairings and not just the GBP/USD. There will be something more to add on that later on, especially with the 4pm London fix in focus this afternoon. The GBP/USD is currently trading at 1.2532