A minor intraday support lies at 1.0416 and initial resistance is projected at 1.0540. The latter should cap the upside, for a downswing towards 1.0350 low.
The break through 1.0495 led to a spike to 1.0650 and currently the pair is caught in a 1.0495-0680 range. A favor a break on the downside to reinstate the bearish bias on the senior frames.
The violation of 1.0495 support has reinstated the bearish bias and my outlook is negative, for a slide towards 1.0350, en route to 1.0195. Initial minor resistance lies at 1.0495.
Yesterday's slide performed a precise test of 1.0350 support and current rebound should be considered corrective, preceding a new leg downwards, to 1.0195 area. Initial intraday resistance lies at 1.0450, followed by the major hurdle at 1.0495.
My outlook here is counter-trend, for a break through 1.0495 support, towards 1.0350 lows. Initial intraday resistance lies at 1.0590, followed by 1.0680.
The failure at 1.0490 support led to a renewal of the upmove and the bias remains positive, with a risk of another rise towards 1.0670 resistance zone. Key support lies at 1.0490.
The break through 1.2360 shows, that the consolidation pattern above 1.2200 is over and the bias is negative, for a slide towards 1.2080 area. Initial intraday resistance lies at 1.2200, followed by 1.2250.
Yesterday's dip to 1.0450 shows, that the consolidation pattern below 1.0620 is complete and the bias is positive, for a rise through 1.0670, towards 1.0870. Key support lies at 1.0540.
The recent test of 1.0680 has failed, but today's slide should be considered corrective, preceding an advance towards 1.0870. Initial major support lies at 1.0540-60.
Yesterday's massive rise during Britain's PM speech has peaked below 1.2430 resistance and the intraday bias is corrective, before another leg upwards, to 1.2570. Initial intraday support lies at 1.2300, followed by 1.2230.
The pullback after 1.2415 high should be considered corrective, so my outlook is bullish, for a break through the crucial 1.2350, en route to 1.2570. Initial intraday support lies at 1.2230.
