FXstreet.com (CÃ³rdoba) - Greenback is extending gains during the American session. In the last hour EUR/USD fell below 1.4200 to 1.4175 reaching a fresh intra-day low and the lowest price since mid August. The pair is accumulating a decrease of more then a hundred pips during the American session.
Also against the Pound, the Dollar is extending gains. GBP/USD broke below 1.6135 and fell to 1.6111 posting the lowest price since July 13. The pair lost previous gains and is 0.92% below today's opening price.
Sam Shenker, analyst at TradeTheNews: The British Pound remained under pressure as pair continued to test support at 1.6246, a 23.6 Fib of the 1.3656-1.7062 Sterling rally. A further move to the downside would likely see the greenback longs push the pair below the psychologically important 1.6000 handle, a level defended at 1.5984, a July monthly pivot low, with further sustained momentum seeing dollar longs testing bids at 1.5802, a June monthly pivot low. Further support seen at 1.5751, a key 38.2 Fib of the 1.3656-1.7046 GBP rally.