The greenback is slightly advancing gains to start European morning trade
The dollar is creeping slightly higher on the session, with EUR/USD now nearing the 1.1200 level and also GBP/USD falling to a session low of 1.2525 from around 1.2545 earlier.
Notably, GBP/USD is now backing away from its 100-day MA (red line) @ 1.2563 as sellers are leaning on the technical level to retrace some losses sustained over the past week or so.
The 1.2500 handle will be a key near-term spot to watch in case the retracement goes any further, as that will start to bring back key near-term levels into the picture.
The 100-hour moving average @ 1.2480 will be the first spot to watch in that regard.
Elsewhere, the dollar is also seen firmer against the likes of the aussie and kiwi as well with AUD/USD now trading at 0.6886 and NZD/USD at 0.6408.