With a bearish retracement at the London Open tonight, it will be important to note the 1.1057 price level as Previous High Support. These previous highs at 1.1057 are a few pips from the midpoint psychological level 1.1050 and the 38.2 fibonacci retracement at 1.10665 of today’s bullish move. This mentioned support zone is important if your interested in trading the bullish continuation of this move after the pullback. Obviously, the other fibonacci levels shown here are important as well, I highlight the 38.2 because it is aligning with the previous highs.
This may come into play in London tonight or in the New York Session.
US Dollar Analyst, FOREX.TODAY