Last few hours of EUR/USD trading were marked by clear declines and the rate of the drop stopped at 1.4072
The clear, current forex trading support is the last level, where the drop has stopped is the 1.4070 area, assuming that this is the wave of the "B" of the bigger decline of ABC correction that has been built from the low of 21 January. Possible break through this level to the downside may be as a signal of continuation to weaken Euro against the dollar even more. It will then be broken lower bound medium-term upward channel.
In this case, the next support will lay around 1.4024.
If the support holds the level of 1.4072 EUR/USD is likely to continue to rebound.The movement will be quite large. First resistance can be found h at 1.4115 and another at 1.4155. In the optimistic scenario, reflected in the EUR/USD trading could be continued to the 1.4250 area, where the line runs inside the channel for long-term growth.
A dynamic trading we noted on Cable over the last number of hours and the trading rate already reached the important resistance created by an upper limit on the medium-term downward channel (currently 1.6267).
If this resistance is pierced to the up side will lead the way to higher price levels, and then we could see 1,6352-1,6475 zone be tested, where are key building the elimination from November 16, 2009 the downward sequence. This zone is, in my view, the maximum high of the current correction. Level of support is slightly below 1.6190, where the important local support is established.
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