GBP still under pressure

Author: Sean Lee | Category: News

GBP/JPY traded as low as 157.70 and EUR/GBP hit .8615 as trailing stops were hit on all GBP crosses. Cable is having trouble bouncing and we may see further losses if the market can hold below 1.6450 into early Europe. It doesn’t look like there have been any major news or announcements today, just the usual profit taking and stop-loss hunting.