GBP/USD breaks below the 1.5705 low and reaches the 1.5682, as the markets open. The currency pair is on a downside pressure due to the Eurozone members, not coming to a decisive plan to meet the debt crisis. Intraday bias remains on the downside, as long as the 1.6200 minor resistance line is not broken.

Safe haven currencies are bullish today, as risk appetite is down. GBP/USD has been trading on the downside, since reaching the 1.6615 high. In this morning sessions, the currency pair dropped to the 1.6410 low as concerns of global economic downturn is making headlines. Intraday bias remains on the upside, as long as the 1.6110 minor support line is not broken.

EUR USD is struggling with 1.3569 minor support line. Intraday bias remains on the upside, as long as the EUR USD is able to close above the 1.3569 minor support line. If the EUR USD closes below the 1.3569 minor support line, it will indicate a change of sentiment to the bearish side.

The shedding of risky assets put downside pressure on the December E-mini S&P 500 this week, leading to the formation of a closing price reversal top. This pattern often leads to the start of a 2 to 3 week break of about 50% of the last rally. A move through 1191.50 is needed to confirm the reversal top; otherwise it could go into sideways mode.