FXstreet.com (Barcelona) - Euro and Pound have given away small recoveries seen during Asian session as they have both plunged lower on early European session, extending Friday's losses to fresh multi-week lows.

EUR/USD recovery has been capped at 1.4905, and the Euro has dropped almost 100 pips on early European session, breaking below Friday's low at 1.4820 to hit a fresh 4-week low at 1.4785.

GBP/USD recovery from Friday's low at 1.6422 has been capped at 1.6515 ahead of the European session opening, and the pair has plunged almost 150 pips on early European trade to reach a fresh one-week low at 1.6337 so far.