Monday’s Dec 10th midday analysis -12.30 GMT

Euro started the week slowly trading inside Friday’s range and only well in the Uk session the pair pushed higher and touched the 1.4700 level. A continuation north has the 161.8 Fibonacci Expansion line as target at 1.4740 very close to the 1.4770 resistance.

Cable shot up when the european markets opened this morning and broke above the 2.0365 resistance and touched the 50.0 Fibonacci retracement line of the 2.0670/2.0180 down move. Next intraday resistance is the 61.8 FIb of the above mentioned move at 2.0484 just below the 2.0500 round number.