EUR/USD has knocked off nearly 50 pips in the last hour or so down to 1.3321 from 1.3370.
Her Maj’s pound has peeled off around the same from the highs at 1.5657 down to 1.5608.
EUR/GBP topped out just over the 100 dma but just shy of the resistance and the 55 mma at 0.8565
Already a little bounce is in place and both are over 10 pips above the session lows.
I would suspect this is just profit taking as the European afternoon wears on. European stocks are holding the days highs and bonds are holding steady after drops in yields.
