Nearer stops were taken out at 1.2815/20 level last night with another batch lurking around 1.2870/80.
Based on the firm close overnight, I would expect further consolidation today with a slight upside bias targeting the buy stops. Support on first test would be 1.278ish (see chart trendline).
Can't get overly bullish when market trades to 1.2870/80 for today.
So for today, I would expect an up > down market. 1.2770/80 to hold on first test and 1.2870/80 to cap and market potentially reversing to day low levels.
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