EURUSD sold off heavily following a brief rally that kicked off Janet Yellen’s speech last Friday. By the time the dust settled, the single currency had lost 160 pips against the USD and also broken below the 1.1200 handle. Not only was this level a key pivot in May and June, but it’s also channel resistance that extends from the current 2016 high at 1.1615. In the week ahead, the pair is likely to encounter offers in the 1.1200 region while bids may form near the August low at 1.1060. Be sure to account for this Friday’s non-farm payroll if you take on US dollar exposure ahead of the event. GBPUSD rallied at the ... (full story)