It was the good data that made many to buy despite brexit. But after got bitten and with fresh data being red only BOE will buy and that's not so sure
Pound under pressure once again
As the GBP questions continue European desks have busy selling 7 Oct Reported strong bids/demand at 1.2350 now smashed to post 1.2330 in a rush. Next line of bids around 1.2300 but it's all a bit sketchy after last night's collapse. GBP supply getting a boost from EURGBP climbing back over 0.9000 to post 0.9022 as I type Reuters reporting that 6-month GBPUSD risk reversals to trade off the expected Article 50 trigger in March are showing the greatest bias for GBP weakness since early July.