Monday's Jan 21st midday analysis -13.00 GMT

EurUsd broke below the 1.4600 support level and pushed through toward the 1.4450 zone covering more than 140 points in today’s Asian and European session. After such a big drop on a day when we weren’t expecting big volumes we should look for some retracement move for the Us session or at least a slow down and a consolidation just below 1.4500.

GbpUsd traded aroun dthe 1.9500 for most of the day with only one small spike that printed today’s low at 1.9456. After breaking and retesting a support trendline last night just above the 1.9550 area the pair started once again to move lower but with diminished momentum.