Cable down to session lows of 1.2570
The pressure is beginning to mount on the pound now as cable dips firmly below the 1.2600 handle amid waning optimism of a Brexit deal being struck.
Headlines over the weekend weren’t encouraging to say the least and that is continuing to weigh on the quid as we enter the European morning.
Buyers are still in near-term control somewhat but the momentum is beginning to slip from their grasps. 1.2500 appears to be the next target now for sellers with a move below that likely to reinforce further conviction to test the key hourly moving averages next.