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GBP/USD Ebbs to Session Lows on Little Newsflow

GBP
  • Pick up in GBP/USD price action in recent trade, with GBP/USD slipping to the day's lowest levels. No notable headlines or news to drive the move, with flow and a spike in volumes likely driving the price action.
  • Best volumes of the day go through in GBP futures on the tick lower: just over 1,500 contracts change hands within two minutes (cash equivalent of $121mln).
  • Spot now through the late Weds PM NY low, but is yet to encounter any meaningful support. Next level crosses at 1.2617, the August 14 low before key support of 1.2591.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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