Tuesday's Dec 4th midday analysis -13.00 GMT

Euro traded inside yesterday’s range for the most part of the Asian and European session but it shot up and is now trading above the 1.4700 level, finding some resistance around the 1.4750 area close to the 50. Fib Line of the 1.4860/1.4620 down move.

Cable made a lower high today but failed to move below 2.0600 support, while trading under Friday’s and Monday’s highs we maintain our bearish view and expect a move south on the mid term. Getting below 2.0600 will open up yesterday’s lows at 2.0520 as the next target.