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Pound upended again as dollar surges-GBP/USD tests technical support level
Following on from the previous update, noting the slide in the EUR/USD after the US jobs report, the Euro is not the only currency reeling under the power of the Buck right now. The Pound has also suffered the fallout of that dollar strength and now the GBP/USD has fallen below the lows seen yesterday and extended that drop to around 1.3075 as this update is written. So, it seems there is no hiding place for the Euro or the Pound just now. Perhaps it would be unwise to rule out a bounce at some stage, but the way things are right now, it is likely any rebound in the GBP/USD, or the EUR/USD will run into sellers higher up. The GBP/USD is flirting with the 50 day moving average, in place right now at 1.3075. The low seen a moment ago was set at 1.3073, so it is holding for now, currently trading at 1.3096
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