FXstreet.com (CÃ³rdoba) - Cable is extending losses across the board. Against the Dollar, fell below 1.6350 to 1.6328 posting a fresh intra-day low. GBP/USD is losing ground for second day in a row. Support below 1.6300, lies at 1.6275 (August 18 low).
Against the Euro, Cable is falling further. EUR/GBP is consolidating above 0.8700 and rose to 0.8760, the highest price since June 8. The pair is rising for the fifth consecutive day.
The FastBrokers Research Team afirms: Though Britain won't release anymore economic data today, we will receive Nationwide HPI and CBI Realized Sales on Thursday followed by Revised GDP on Friday. All of these data points are normally market-movers, allowing investors to value the Pound more on fundamentals than the negative psychological impact of the BOE's injection of liquidity.