Forex Flash: EUR/USD coming under pressure – RBS

FXstreet.com (Barcelona) - According to William Moore, a Technical Markets Strategist at RBS, "In analyzing the daily chart yesterday, it looks as if the short-term EURUSD is coming under pressure; an emerging wedge pattern implies that the breaking of this short-term support level around 1.3070 is the trigger for a possible extended downside to the previous annual low at 1.3000, initially onto the mid 1.2800's potentially."

Moreover, "the stop loss for this short-term position would be through the recent highs at 1.3137 - this short-term position compliments the longer-term ones noted in recent movements." Moore adds.