EUR/USD rose for the first part of the session, but fell late in the day as S&P downgraded the country of Spain by two notches. The potential triangle that we have been tracking seems to have held up again, and this pair now looks troubled again.
The GBP/USD pair rose for part of the day, fell for the other, and in the end failed to move much. The pair looks a bit exhausted. In the end, we aren't ready to sell yet......and will look for support a little closer to the 1.60 level.
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