GBP/USD bounces off support
On Thursday GBP/USD slid to $1.2591 on worries that the major UK utilities company Thames Water might have financial difficulties and could in future have to be nationalised.
Nonetheless GBP/USD is expected to end the month and quarter in positive territory with it bouncing off Thursday’s lows towards the mid-June low at $1.2768. Above it sits key resistance at last week’s $1.2841 to $1.2848 highs.
If this week’s $1.2591 low were to be slipped through, the $1.2544 early-June high could be revisited.
