GBPUSD is continuing the slide lower, taking out stops under 1.6180 then 1.6150. The GBPJPY selling has been relentless over the last couple of hours. EURGBP buying has also weighed on the GBP with reported Middle Eastern buying. There is an article out in the UK Times, which has spooked the market, reporting that Lloyds Bank maight write-down 13 Bio GBP for the first half of 2009.
Technically we could see GBP back to test 1.5980-1.6020 area, last weeks low.
