The $uros to poundsr stopped for breath yesterday  following its long run higher, ending the trading session with a shooting star candle which although reached the 0.94 price handle, is suggesting a degree of bearish sentiment and exhaustion in the current upwards trend.  As a result we can expect to see a pullback from the current high and it will be interesting to see whether the 9 and 14 day moving averages can provide the necessary support to prevent a deeper move lower.  Any reversal may be limited to 100-150 pips with the strong support level in the 0.9250 region.

The only item of $undamental newsthe economic calendar for Europe was the Industrial Production number which came in bang on target at 0.9% while for the UK all the fundamental news has centred on the Labour market, details of which can be found on my pounds to dollars site.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.