- USD bulls got a bit disappointed by the components of the GDP release earlier, which led to some position covering
- EUR/USD rallied above 1.2620, but ran into supply from Asian sovereign names here
- Dealers report decent selling interest on their books between 1.2640 and 1.2650 and expect that level to hold
- EUR sentiment remains negative, but it will take a break below 1.25 for downside momentum to accelerate after this period of consolidation
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