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Pressure on the pound increases as GBPUSD gives up 1.3000
It's been under the cosh all morning and now sinking further 20 Sept Cable has finally cleared the recent support at 1.2995-1.300 and triggered stops to the next level I mentioned around the 17 Aug iows of 1.2979. Strong demand/bids between 1.2940-50 the next target on the down side with 1.3000 expected to cap rallies for the moment. EURGBP still a prime mover as is GBPJPY and I'd guess that a few funds might be using short GBPJPY as a disappointing BOJ play.
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