gbpusd0707The GBP/USD pair dropped to fresh session lows, around the 1.2465-60 region in the last hour, and has now eroded the previous day's positive move. Having once again failed to find acceptance above the key 1.2500 psychological mark, the pair edged lower during the first half of trading action on Tuesday and was pressured by a modest pickup in the US dollar demand.

The upbeat US ISM Non-Manufacturing PMI released on Monday added to last week's stellar US jobs report and indicated that the US economy has started to recover.