If it can't go up or sideways, it's got to go somewhere

The euro is now dipping under 1.0800 properly, since the PMI rally.

EURUSD 15m chart

If you've got the patience for it, 1.0785/90 is where support should be sitting, with further down to 1.0770/75.

It's all pretty slow going though.

The dollar has perked up somewhat as it sits above 111.00 at 111.16, just off the latest bounce high of 111.28.

Cable is down near the lows of the day at 1.2476.

I know it's a snorefest right now but we're still in headline risk mode with this damned health Bill so make sure you're not getting complacent with any trades.