The bullish divergence on the hourly chart suggests the low set at 1.2816 is unlikely to be challenged today and a break above 1.2850 could see the spot test hourly 50-MA level of 1.2907 levels.
The gains are likely to capped around 1.29, given the hourly 50-MA is sloping downwards.
On the lower side, a daily close below 1.2789 (post Brexit low) would open doors for a drop to 1.25 levels.
The gains are likely to capped around 1.29, given the hourly 50-MA is sloping downwards.
On the lower side, a daily close below 1.2789 (post Brexit low) would open doors for a drop to 1.25 levels.
