GBP/USD Update – 24/08/2017 (11:10am) – by Arjun Lakhanpal

August 24, 2017 by

GBP/USD Update – 24/08/2017 (11:10am): GBP continues to trade softly, particularly vs the EUR, the cross breaking to 8 year highs (ignoring the flash crash). No new fundamental driver per se, the move feels and acts as though flow is the dominant factor. Although arguably EURGBP looks stretched technically, I feel that GBPUSD could have further downside and see the risks higher for the USD over Jackson Hole. Having broken through 1.2800, GBPUSD looks set to retest 1.2600.