Starting a consolidation phase. • EUR/USD is now consolidating after its recent rally above 1.1400. Hourly support can be found at 1.1076 (18/05/2017 low). Stronger support lies at 1.0842 (11/05/2017 low). • In the longer term, the momentum is clearly negative. We favour a continued bearish bias towards parity. Key resistance holds at 1.1714 (24/08/2015 high) while strong support lies at 1.0341 (03/01/2017 low). Stalling below support given at 1.3046. • GBP/USD's momentum is higher than expected and the pair is now targeting key resistance give at 1.3046 (18/05/2017 high). Hourly support is given at 1.2589 ... (full story)