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GBPUSD Breaks Support, AUDUSD Drops, RBA Rate Cut Coming - US Market Open

LGBP: GBPUSD is once again on the backfoot with the pairing posting a fresh 3-month low as Theresa May meets the 1922 Committee over her departure date (full story). The pair is testing support at 1.2800 in which a break below could open up a move towards 1.2770. Theresa May has been pressured to announce her departure date, however, failure to do so could force the 1922 committee to lay a departure date for the Prime Minister. Political uncertainty continues to keep gains in the Pound limit.

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