GBP/USD falls from a high of 1.3723 earlier to 1.3668 currently
The drop after failing to hold yet another break above 1.3700 – at least for a comfortable enough period – sees cable fall back to test its 100-hour moving average (red line) @ 1.3678. Keep below and the near-term bias stays more neutral now.

A bit of a mixed start to the session so far
The dollar has trimmed losses on the day, even pushing higher against the euro, pound and franc currently as we navigate through the first-half of European morning trade.

EUR/USD pares earlier gains but keeps within a narrow range so far today
The pair is now trading down to session lows of 1.2158 but is keeping within a 25 pips range so far today. And that is largely within the realms of what we saw with price action in trading towards the end of last

Comments by Ifo economist, Klaus Wohlrabe
That’s not an encouraging assessment, with the subdued services activity also somewhat reflected by the weaker PMI readings in January last week . If tighter restrictions are prolonged to Easter, a double-dip recession is certainly on the cards.