The pound has been under pressure since US traders arrived at their desks and sold the pair below the European low of 1.6765. The low so far is 1.6758.
Today’s fall sends GBP/USD below the 55-day moving average and maintains the series of lower highs since the failed test of 1.70.
cable daily
Medium-sized demand stretches down to 1.6750 from current levels. There’s also some demand at Thursday’s low of 1.6723 but larger bids don’t kick in until 1.6700 and the 100-dma just below. There’s nothing significant on the options calendar today.
