EURUSD
The Euro resumed its larger downtrend which was interrupted by narrow consolidation and eventually broke and close below near-term target at 1.2660, Nov 2012 low. Fresh weakness also probed below psychological 1.26 support, on a dip to 1.2569, new two-year low, with subsequent consolidation hovering around 1.26 handle. Bears remain firmly in play and favor further downside, with no significant supports on the way towards 1.2042, July 2012 low. Fibonacci 76.4% of 1.2042/1.3992 ascend at 1.2502, is seen as immediate target, ahead of 261.8% expansion of the wave from 1.3699 at 1.2360 and, low of May 2012, at 1.2287. Corrective actions are expected to find solid barriers at 1.2700/60 zone
Res: 1.2662; 1.2700; 1.2760; 1.2810
Sup: 1.2600; 1.2569; 1.2502; 1.2450
GBPUSD
Cable
Linear Mode
