Drop from 1.4867 sent the pair the pair spiralling lower, below the channel off 1.4867: Support area at 1.2758 (daily envelope bottom), with next levels at 1.2726/ .2709 (new reaction low + daily Bollinger bottom/ see infra + Equality C wave off 1.4867), where pause favored.
If wrong on that call, risk towards 1.2678 (76.4% 2005 low to 1.6040), ahead of 1.2615 (daily Starc bottom) and 1.2548 (5th wave projection daily charts): tough on 1st attempts, amid oversold readings.
Resistance at 1.2839 (breakdown hourly), with next levels at 1.3003/ .3011 (current reaction high off 1.2726 + daily Short Term Moving Average↓/ daily envelope top): must sustain back above to indicate 1st signs of a turn for the better for €.
USD/JPY: (96.01) New year low below channel off 110.67
EUR/GBP: (.7975) Above channel off .8187
EUR/JPY: (122.87) New reaction low in channel off 155.20
