European majors remain range bound

European majors remain range bound, after failure to reach the 1.3700 Euro and 1.4500 the GBP While the U.S. has shock the currency markets with last FED minutes, ECB council member Axel Weber said the bank is poised to lower interest rates further to counter the worst recession since World War II in Europe
Technical analysis
EURO R1: 1.3760 S1:1.3550
R2: 1.3780 S2:1.3520
chart pattern indicates the currency to move on bull run for the day. Trading range for the day is expected between 1.3560-1.3740 levels for the day. Day Stochastic is seen in overbought levels and slight down consolidation would be seen near the support level .Overall the currency is seen on buy side today.
GBP R1: 1.4610 S1: 1. 4400
R2: 1.4620 S2: 1. 4390
chart pattern shows the currency to be on slight downward correction for the day. Trading range is expected between 1.4410-1.4600 levels for the day. Momentum is seen trending up indicating bull note but restricted to the resistance levels. The currency is seen trading above the moving average indicating the currency to be on buy side .