Wednesday’s Dec 12th midday analysis -13.00 GMT

Euro made a lower high today,trading within yesterday’s range and although it spiked above 1.4700 it found resistance at the round number and we are expecting to see downside pressure in the US session.

Cable retraced  after yesterday’s sharp fall but has found resistance at the 50.0 Fib line of the 2.0670/2.0180 down move.  Same as in EurUsd we  expect the US dollar to strengthen and push the pair lower, first target is the 2.0365 now turned into support and below that we have the 2.0300 round number.