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GBP/USD dips below 1.23 as EUR/USD hits fresh session lows
The rebound in the dollar index (USDX) noted here earlier has now extended a bit more and the EUR/USD has taken out the lows seen earlier and the low seen yesterday, at 1.0393. The low a moment ago was set at 1.0390 and it seems that could have tripped some stops below 1.0393. The fall in the EUR/USD has naturally taken the GBP/USD lower with it and the fact that it has ensures this is a wider dollar move and not something unique to the Pound or the Euro. The reported rise in the GBP/USD yesterday saw it reach 1.2375, as noted here at the time. The Pound later fell back with the Euro and closed in the US at 1.2316. The range seen so far has just been extended to the downside, with a fresh low a moment ago, at 1.2296. The earlier session high was set at 1.2324. The GBP/USD is right now at 1.2304
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