Euro fails to sustained breaks under 1.3000. GBP steady

Euro/USD: The morning session saw the Euro come under further downward pressure with key support around 1.3000 being breached. However, renewed buying interest was stimulated in and around the 1.2975 area from where values recovered during the afternoon and resistance in the 1.30661 region was then challenged. The European day finally closed at 1.3049.

GBP/USD: For most of the morning session the GBP consolidated between the relatively tight parameters of demand at 1.5655 and supply in the 1.5688 area however, once the upper resistance was breached prices accelerated to make a peak in the 1.5768zone prior to profit taking trimming gains slightly to close at 1.5753.

USD/JPY: A further positive session for the USD today and after opening in the 78.45 area a brief period of consolidation gave way to a prolonged bout of buying that lifted values to a peak in the 78.95 zone. Profit taking finally trimmed these gains for the market to finish in the 78.87 region.

GBP/Euro: A further solid bullish performance from the GBP today saw prices push immediately higher from the opening around 1.2021. This enthusiasm took the market to a peak in the 1.2084 zone ahead of book squaring trimming gains a little to close in the 1.2060 region.