The announcement of the Bundesbank concerning the approval of the cut of the interest rates in Europe might favour a fall of EurUsd to 1.29. The bearish engulfing pattern of yesterday is the confirmation.
The 85 days moving average of 1.317 sends EurUsd back while the 200 days moving average rises up to 1.292. The exit from this range will outline the next months trend.
A perfect entry timing. GbpUsd reacts positively on the resistance of 1.54 and start the trend reversal. The new target of the short trade is still 1.503-1.51.