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Expected releases today......

1:45 am EDT   Swiss CPI expected 0.1 %

3:55 am EDT   German,EUR  Services PMI expected 52.5,53.2

4:30 am EDT  UK Services PMI Expected 51.6

                    UK Mortgage Approvals

5:00 am EDT  EUROZONE CPI expected 3.1 %

And

8:30 am EDT  US PAYROLL

Initial Claims rose to 337K with estimates at 315K. The market and stock market will be digesting whether this is the start of deteriorating employment situation or simply an aberration.

UK September retails sales increase again by 0.6% stronger than market expectations of a 0.2% increase.

Stocks only down 94 now. Crosses rebound from lows.

Biege Book is an anecdotal report of the economy by Fed Reserve District. As such it will provide a snapshot on how the economy is doing now.

GBPUSD at support. A break should lead to a test of 2.0335.

This is probably more a reaction to the level of the EURCHF which trades near the highs at 1.6788 level (high is 1.6827). There has been no change in the value since the comment.

After testing the 237.37 support level (21 hour MA) the pair snapped back. GBPUSD could ony get down to 2.0370, keeping the 2.0350 support a fair ways away.

GBPJPY sold off through the intraday support at 238.24 and dragged USDJPY down through the 116.72 with it.

21 bar MA on the hourly chart. GBPJPY at support at 238.24 as well (midpoint of the move down from the recent high on Oct 15th)