With no economic data released today, like the Euro, the British pound saw its biggest drop in 2 months. Unlike the Euro however, the uptrend in the GBP/USD is not broken until the currency pair slides below 2.0450, which is the July 18th low.
House prices and mortgage approvals are due for release tomorrow. Disappointing numbers should only cause mild weakness in the pound. Instead, the US dollar will probably drive the currency pair?s movements over the next 24 hours, unless there is another surprise cross border merger or acquisition announcement. House prices and mortgage approvals are due for release tomorrow. Disappointing numbers should only cause mild weakness in the pound. Instead, the US dollar will probably drive the currency pair?s movements over the next 24 hours, unless there is another surprise cross border merger or acquisition announcement.