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Dollar rises into the 4pm London Fix as GBP/USD eyes 1.2500 and EUR/USD hits fresh session lows
What could effectively be the final 4pm London FX fix of 2024 is soon to be upon us and in advance of that the dollar is rising to session highs versus all but the Yen right now. That said the USD/JPY is not lifting from a session low at 156.67, to back above 157 leading into this event. At the same time the EUR/USD has just now fallen to a fresh session underneath 1.0375 and the GBP/USD is very close to breaking below a noted double bottom. That has been noted here previously and it is formed of two previous lows, at 1.2501 and 1.2505. A break below the lower bound of those two cannot be ruled out by the looks of it. As to whether we see that shortly, when the clock strikes 4pm here in London remains to be seen. The GBP/USD low so far has been set at 1.2507 and it is right now at 1.2510
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