Having penetrated pivotal resistance at 1.3948 yesterday, EUR/USD bulls looked like the sure winners, notes JP Morgan. "But a total lack of follow-up today raised chances of having just performed a countertrend rally on lower scale once more", JPM warns. "That said it would now take a range breakout between 1.3967/69 and 1.3891 (pivots) to either put the odds in favor of an extension to 1.4101 (monthly Ichimoku-lagging) and to 1.4259 (76.4 % on big scale) or in favor of acceleration down south towards 1.3477/76 (int. wave 3 projection/former low)," JPM projects. Meanwhile in Cable, JPM thinks that the market generally ... (full story)