The pair is falling the same way that raise one year ago: running day atfter day way out of bonds, without even notice supports of any kind, and moving a larger amount of pips that the daily average. Corrections are so shy, you can’t even notice them sometimes, and the bigger retracement most of us are expecting (in fact more in Gbp that here) seems to be off for the summer; indicators show the pair is over sold in daily charts, yet far for giving any contrarian signal to this dollar bullish momentum. The Pair is quoting right now around 1.4410, after reaching 1.4387, 61.8% of a weekly Fibonacci rally 1.3360/1.6038. Being such a level, the support should hold big, yet in actual market conditions and as I always say, nothing is 100% reliable in forex: a break trough the minimum could take the pair to next support today, around 1.4342 and finally the zone od 1.4300. Analysing such Fibonacci, will mean to see where daily and weekly candles close, in order to define further moves. Above 1.4436, the pair will find next resistance at 1.4465 and finally the congestion zone around 1.4500.
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