FXstreet.com (Barcelona) - After some initial optimism earlier in the European session, risk aversion returned quicker than most people were expecting. The big macroeconomic worries are back into the market, with U.S. stocks reaching an eleven years low, and gold steady around the U$ 1000 an ounce.

Euro has halted the fall just under the 1.2700 and remains pushing to the downside: break under 1.2680 could confirm further continuation for the Asian session. Above 1.2830, downside will remain limited for the rest of the day.

Gbp is holding just under 1.4500 but needs to move under 1.4400 to resume bearish trend in the short term. Break above 1.4760 will deny further falls.