[GBP/USD]

[GBP/USD] started the Asian session around the 1.4280/85 level before edging up a tad to an intraday high around the 1.4295/00 level. The pair was then sold down to an intraday low around the 1.4240 level on the back of a sell off in the Eur/Usd which slipped on market chatter of a Spanish regional bank needing a bailout. However, a recovery in the Eur/Usd also gave a prop to the pair which recovered back to the 1.4280/85 level before a UK CBI report of job cuts in the UK financial industry rattled market players a tad sending the pair back down to current level of 1.4255/60.