EUR/USD: Shift from bearish to neutral: In a 1.1100/1.1270 range. The bearish phase in EUR that started slightly more than 2 weeks ago has ended. The outlook from here is deemed as neutral and we expect EUR to trade in a broad 1.1100/1.1270 range. On a shorter-term note, the current rebound from the recent low of 1.1095/00 appears to have scope to extend higher but at this stage, a sustained break above 1.1270 appears unlikely. GBP/USD: Neutral: Scope to extend lower to 1.4330/35. The expected pull-back in GBP has been more rapid than expected. Immediate pressure is still on the downside and the current decline could ... (full story)