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Pound on the drift as Dollar edges higher-GBP/USD dips below 1.2600
The GBP/USD has just now dipped below the 1.26 handle and currently setting session lows below there as I write this update. There is no immediate Pound specific driver for the fall back this afternoon and it seems to come from a combination, of a slight uptick in the EUR/GBP, at the same time as the EUR/USD now falls below 1.0770. Consequently, the wider dollar, as defined by the USD index (USDX), has made some progress now today. The low seen on the GBP/USD just now was set at 1.2598. The next support level of note remains at 1.2566 (200 day moving average), with resistance still in place at 1.2648 (21 day moving average). The high seen earlier today was set at 1.2630. It is just now trading at 1.2600
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