The EUR/USD pair is facing selling pressure below the psychological mark of 1.0800 in the early Asian session on Wednesday. Despite positive Eurozone PMI data for November, the Euro (EUR) is not gaining traction due to ongoing weak demand in the Eurozone. As of the latest update, the major pair is hovering around 1.0795, showing a marginal increase of 0.01% for the day.

Meanwhile, the GBP/USD pair has broken a two-day losing streak and is maintaining a position above the 1.2600 support level in the Asian trading hours this Wednesday. The pair benefits from a slight decline in the US Dollar (USD). Currently, GBP/USD is trading near 1.2607, reflecting a 0.11% gain for the day.

In the precious metals market, the price of gold is stabilizing around $2,020 early on Wednesday, recovering from a two-day correction after reaching its all-time high of $2,144 on Monday.