GBP/USD trades below 1.23

The pound has just now hit a fresh session low against the dollar and the Euro. It is under pressure elsewhere too, against some of the major crosses. The GBP/USD has just now traded to 1.2295 and the reader is reminded once again of what was said here recently, about a key level a lot lower down. That remains in place at 1.2075, but of course that is still miles away and may not even come closer into view. It really all depends on what the BOE delivers later today, as to whether it does come closer into view. The GBP/USD fall looked to me like it was linked to a EUR/GBP buy order at the same time, but that cannot be confirmed here. The pound has just now edged higher anyway, currently trading at 1.2307