The pound is falling to session lows on the day now
The pair is up by a little over 0.5% now as buyers are taking a look just above the 0.9000 handle as we start to count down to the BOE policy decision later today.
The move is resulting in a weaker pound across the board, with cable also caught just under the 1.2500 handle as well currently.
For EUR/GBP, the pair has failed to really sustain any solid gains above the 0.9000 handle going into the daily close. Hence, if buyers can do so today, it would be a positive spin on the technical side of things – though there is some resistance at 0.9035.
There’s not much else driving the pound lower in terms of headlines but this looks to be some position taking ahead of the BOE later.
As for cable, the 15 June low @ 1.2455 will be one to watch in case we start to look towards a steeper fall away from the 100-day moving average at 1.2520.