Wednesday’s upside rejection did not translate into a renewal of strong selling pressure yesterday. Instead price action was more muted with initial downside rejected and the day ended with further buying. This move has been countered by Asian selling but our signals for sentiment remain temporarily and cautiously positive.
So I'm looking for a Dip to 1.2166 to Buy with a stop at 1.2125. Topside potential is to 1.2225, 1.2244 or even 1.2272