10:04, 01 June
Today manufacturing PMI will be announced both on U.K. and U.S. side. These data will be important for the pair’s direction in short term.
Up trend continues on the pair. 1.2250 is the key support level for the pair. We expect that up movements would be continues if the pair stays above this level. However 1.2420 is main resistance level for the pair. We may see some declining from this level.
Resistance levels: 1.2400 – 1.2420 – 1.2470
Support levels: 1.2340 – 1.2290 – 1.2250