Pullback hits $1.3059 through the 1600BST Fix, Finds Buyers into the Dip

Corrective pullback, off the morning's high of $1.3255, extended to $1.3059 into the 1600BST fix before buyers began to emerge to take advantage of the dip. However, the recovery currently meeting some headwind resistance into $1.3100, a break of $1.3110 to allow for a move on toward $1.3130/35 ahead of $1.3150/60 and $1.3180. Support remains around $1.3060 to $1.3050, a break to allow for a deeper move toward $1.3005/00. General USD demand was seen as the key driver, possible correction Friday having some influence with the USD still seen a decent sell into rallies. Weaker than forecast EZ flash PMI data weighed on the EUR and provided the USD with a general lift, the pound dragged lower despite UK PMI coming in stronger than expected. US PMI data was strong and helped boost the S&P, along with strong Home Sales, with the USD also picking up demand.