GBP/USD falls back towards 1.22 as dollar recovery continues Earlier today the dollar came under further pressure and that saw the EUR/USD rise close to the 1.07 handle as the GBP/USD eyed 1.23. Well for the past couple of hours the dollar has continued to recover and that has seen the EUR/USD drop back close to just below 1.0625. At the same time, the EUR/GBP has managed to rebound back above its 200 day moving average that it fell below earlier. The EUR/GBP is now trading back above 0.8700 and that has come mostly from a further move lower in the GBP/USD. The pound has just now traded to a session low at 1.2211. Earlier this morning it rose to 1.2289. The move lower there comes, as the USD/JPY continues to rebound too, rising back closer to 150 once more. The GBP/USD is just now trading at 1.22164