Thursday’s Dec 20th midday analysis -13.00 GMT

EurUsd continued yesterday’s move and after it retraced a bit late in the US session it started to move down again and printed a new low just pips above 1.4300 support level. 1.4300 should give the true strength of this bearish move as it s a tough support level, a break here will certainly be a blow to bullish hopes.

GbpUsd retraced towards the 2.000 resistance but failed to reach it and then the pair sinked lower even breaking the 1.9900 support. Yesterday’s 270 points move has a projecte Fibonacci expansion target of 1.9760, we remeber this level from a few months ago when the pair was heading higher.