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EUR/USD and GBP/USD handing it back heading towards the 4pm London Fix
Well, it looks like the price action reversal from earlier this afternoon has rather run out of steam for the EUR/USD and the GBP/USD. Earlier the market was seemingly totally wrong-footed by the US data and that caused the reversal in the euro to back above 1.0950. However, as suggested that move was not certain to last given the doubts about the weekly claims data. So, as the 4pm London fix approaches the US dollar is winning back some ground versus the Euro and perhaps even more so versus the Pound. The GBP/USD has just now set a new session low at 1.3025. The last time the GBP/USD was down here was on September 11, when it based out at 1.3002. The Pound is just now trading at 1.3033 as the EUR/USD dips back underneath 1.0920
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