Hot on the heels of Mikes earlier large sell orders, these have now been chewed through to a high of 1.2931.
The 200 dma has once again held up a push lower today but the bounces are losing strength. There are bids below at 1.2860 with stops just below that. If we break the 200 dma in any meaningful way then that opens the door to retest Novembers lows at 1.2661. Cyprus is no doubt going to weigh heavily as we close out the week and head towards Mondays D-day