Friday's Dec 13th midday analysis -13.00 GMT

Euro retraced a bit in the Asian session and after touching Tuesday’s and Wednesday’s lows at 1.4650 it started to move lower without looking back, it covered already 175 points and has reached the 1.4500 support area; a failure to break lower early in the US session will most likely start a consolidation range if not a small retracement, considering we have reached the short term projected target at the 100 Fibonacci Expansion level seen on the chart.

Cable made a lower high just before the UK markets opened this morning and after that it sunk more than 200 points towards the 2.0200 area. A continuation lower in the US session will get the pair even closer to the previously mentioned 2.0200 support and if the momentum remains intact we could see a test of the 2.0180 monthly low.