EUR/USD Continues to bounce. • EUR/USD is still bouncing. An hourly resistance is at 1.2790. The technical configuration is negative as long as prices remain below the resistance area between 1.2876 and 1.2894. • The break to the downside out of the consolidation from mid-September to November (see triangle) calls for further weakness towards the support at 1.2431. • The long-term trend is negative (see declining trendline linking the May 2011 high with the August 2011 high). GBP/USD The 200 day moving average has been breached. • GBP/USD has broken its key support at 1.5914. The support implied by the 200 day moving ... (full story)