Strong GBPUSD demand into 1.2700 helping to halt the pound's decline

GBPUSD has a few buyers lined up into 1.2700 still 5 Oct

Yesterday I reported the strong bids/support between 1.2700-10 and that's certainly playing its part in preventing further falls in the pound for the moment.

I recall writing a post yesterday at about the same time highlighting the strong demand into 1.2800 that had held before rallying above 1.2850 only to give way not long after so it's all relative!

Currently 1.2734 I expect GBPUSD to remain on the back foot with initial offers around 1.2750 and larger between 1.2780-1.2800.

Services PMI released at 08.30 GMT will have some impact but it won't be as significant a number as usual given the current bigger picture. It might however prove to be an acid test on current sentiment.

Strong GBPUSD demand into 1.2700 helping to halt the pound's decline
Strong GBPUSD demand into 1.2700 helping to halt the pound's decline
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