After an extended bearish run, the pair has pullback around 125.2 region towards 126.75 where it faced some selling pressures. In the asian session, the pair has seen limited buying pressure as the news are coming out in the london session. The pair will likely face strong supply zone at 126.75 - 127.25 and strong demand zone at 126.1. A break & retest below 126 would confirm the continuation of the downtrend.
On the flipside, the pair could rally to the upside at 126.75 & 127.25 following the release of German GDP before the seller come into control.
On the flipside, the pair could rally to the upside at 126.75 & 127.25 following the release of German GDP before the seller come into control.
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