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EUR/USD has a look below 1.0800

Further to many updates here this morning, the EUR/USD has further extended its downside move and now dropped to below the 1.0800 handle for the first time this week. There is still a good deal of consternation amongst traders that I have talked too and it seems that some of them are being forced to part company with their Euro holdings just now too. The move lower in the EUR/USD comes as the GBP/USD remains under pressure. The further gains across the board for the US dollar are still slightly at odds with current dynamics and seem to smack of stop-loss hunting as much as anything else right now. The low seen a moment ago was set at 1.0798. It is just now trading at 1.0802 
 

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