Good afternoon,
Sorry for the delay, but I didn't have many thoughts to share this morning..
Except for GBP which was supported early this morning by Reserve Managers, followed by strong UK GDP figures and finally S&P's revision to a stable outlook and affirmation of UK's AAA rating, the rest of the price action in G10 was rather dull.
EURUSD seems stuck in a range with a slight bearish tone. It s still being supported by Asian buyers on the dip, but upside progress seem, for the moment at least, quite limited.
At the moment the strong supports are around 1.3900 followed by friday's lows around 1.3860, but I wouldn't be surprised to see some stop loss hunting on the break of those levels.
Resistances are around 1.3985-95 and 1.4015. For today. overall I would be more enclined to sell rallies.
Let's see how it develops.
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