GBP/USD under pressure

Market news

11 May 2011

GBP/USD under pressure

Getting pulled lower by euro-dollar slippage, though euro-sterling also getting pressed lower and taking away some of the weight. Cable extends pullback off earlier highs at $1.6518 to $1.6455, but seen meeting demand ahead of $1.6450. Further demand seen into $1.6435 with talk of stops dotted from below this level and extending toward $1.6400.

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