THe GBP loses ground while the Euro digests recent gains.

Euro/USD: A rather volatile session for the Euro today with prices swinging sharply in both directions. Early weakness uncovered good support in the 1.3187 area from where values rallied within the course of one hour to a high point of 1.3283 where resistance re-emerged. Three separate attempts to break this failed and the bulls threw the towel in for a while with the market slipping towards 1.3200 once more. This choppy session finally closed at 1.3260.

GBP/USD: The GBP slipped a little today and with early rally attempts meeting stiff resistance in the 1.5866 area values fell away midsession to challenge support in and around the 1.5772 region before the market finally close in the 1.5787 zone.

USD/JPY: A rather choppy but consolidative session today as recent USD gains continue to be digested. Early rally attempts were restricted by resistance in the 79.86 area from where support in the 79.55 zone came under renewed examination. The European day came to a close around 79.72.

GBP/Euro: The GBP lost further ground against the Euro today and after opening in the 1.1985 area values headed south for the balance of the session. While some support emerged in the 1.1928 area initial bounces were restricted in the 1.1975 zone from where the downward path resumed and lows of 1.1898 established. The market finally closed at 1.1916.