EUR/USD
The near-term price action moves in a consolidative mode after finding footstep at 1.2470 yesterday, but overall bearish tone remains intact for now. Recovery above 1.2500 handle was for now limited by initial resistance, also 55 day EMA, at 1.2520 zone, however, with hourly indicators pointing higher, potential exists for further correction. Strong barriers at 1.2580/1.2600 are expected to limit upside movements and only break here would allow for stronger bounce. On the downside, strong supports lie at 1.2470 and 1.2440 zone.
Res: 1.2523, 1.2550, 1.2580, 1.2600
Sup: 1.2470, 1.2462, 1.2440, 1.2409
GBP/USD
Corrective action off yesterday
Linear Mode
