Late rally with spillover from GBP clears all resistance; next level due around 1.3130 area or slightly higher. Possible reversal now in play but the rate needs to be firm within
24 hours. Bids are building under the 1.2600 area as expected; sell-off likely to be bought hard now.

OK to try the long side again on a dip. Likely some spillover support from GBP. Traders note stops building above the market around the 1.2750 area in size cleared suggesting rate will look for the stops noted around the 1.2950 area with more over 1.3000 but offers likely to cap. Support also from cross-spreaders as they unwind Yen.

Rate is an absolute screaming buy in my view—I can't see further weakness being ignored by the buyers. Traders note the rate is finding profit-taking bids on dips so far despite the uncertainty in the market. 

EURO/USD Daily
Resistance 3: 1.3200
Resistance 2: 1.3120/30
Resistance 1: 1.3100
Latest New York: 1.3070
Support 1: 1.2800/10
Support 2: 1.2730
Support 3: 1.2650

Data due Wednesday: All times EASTERN (-5 GMT)
2:00am EUR German Import Prices m/m
All Day EUR German Prelim CPI m/m

Forex Analysis by Jason Alan Jankovsky at ForexPros.com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check http://www.forexpros.com