EUR/USD: Bullish: Increasing risk of a short-term top. While the 1.1600 target indicated yesterday was exceeded with a high of 1.1614, the sharp and rapid drop from the top suggests increasing risk of a short-term top. That said, confirmation of a top is only upon a move below 1.1400. In the meanwhile, EUR is expected to trade sideways but it has to move and stay above 1.1550 within these few days as prolonged consolidation would lead to a rapid loss in momentum. GBP/USD: Shift from bullish to neutral. Corrective pull-back has scope to extend lower to 1.4400. GBP touched a high of 1.4770 before reversing abruptly and ... (full story)