Trading as volatile yesterday with our original negative forecast ‘stopped’ by a strong early rally. But this upside failed to be maintained above the 13 day mvg avg and, although the lows were also not held, it is the failure above that average that leaves our intraday technical signals for sentiment bearish. Caution needs to be applied to cope with volatility that remains but sentiment remains assessed as negative.
So we look to sell in 1.2685/90 area and on a 1.2711 rally.
Stop is 1.2747 bid
Targets 1.2647 and 1.2626.
Closes 4pm London time