EUR/USD: Neutral: Downward pressure but expects strong support at 1.0505. As highlighted yesterday, we were of the view that as long as the strong 1.0670 resistance is intact, another attempt to move lower towards the major 1.0505 support could not be ruled out (even though the odds for such a move are not high). EUR touched a high of 1.0666 yesterday (holding just below the 1.0670 resistance) before easing off quickly. From here, we are faced with the same view but unless there is a sustained move below 1.0595 within these 1 to 2 days, the odds for further weakness would diminish quickly GBP/USD: Neutral: In a ... (full story)