As we said yesterday, the downside will find some minor congestion in the 1.5800/20 band, which may well continue hold it in the short term. Below the 1.5790 trend low, which won’t be easy as it is important Fibo support (38.2% of 1.3502/1.7191), would head towards 1.5745, where the base of a minor wedge appears to be forming and should see some buying as we approach further major support at 1.5920(61.8% of 1.4813/1.7191).
Economic data highlights will include:
Retail Sales Monitor.
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