FXstreet.com (Córdoba) - The Pound is under pressure across the board. GBP/USD fell to 1.6572 posting a fresh intra-day low. The pair has fallen 150 pips form the highs of the day and currently trades at 1.6582/86, 0.27% below today's opening price. On the downside, support could be located at 1.6550 (Dec 2 low) and below at 1.6505/10 (Nov 27 high) and 1.6465.
Cable is also weaker against the Euro. EUR/GBP found support at 0.9030 and rose to reach levels on top of 0.9100. Currently trades at 0.9094/97, 0.56% above today's opening price.
Andrew Wilkinson, analyst at Interactive Brokers, affirms: In terms of risk preference, investors chose the euro and so ended a two-day gain for the pound against its European counterpart. (…) 2010 is also set to deliver political change and could very well easily leave investors abandoning the pound as the ongoing fiscal and recovery processes are dealt with.