British Pound Continues to Slump Lower.

The British pound has drifted a bit lower during the trading session on Friday as we continue to see the US dollar picked up strength against most currencies.

The British pound has fallen a bit during the trading session on Friday, reaching down to the 1.3250 level. There is a lot of support IHiunderneath in that general vicinity, and therefore I think a does make a certain amount of sense that we continue to struggle. However, if we were to break down below the massive hammer on Tuesday, it opens up massive selling down to the 1.30 handle. The 1.30 handle of course is a large, round, psychologically significant figure, and will attract a lot of attention.

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