Currently 1.2445 tightly bound again

Bang in the middle between large option contracts rolling off today at 1.2350 and 1.2550

Dip buying still the way to go imho but barrier option at 1.2600 to keep in mind should we get anywhere near. Shorts into that should be the way to go but beware stops above if breached.

Draghi speech at 16.00 GMT to keep in mind.

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Offers: 1.2465 1.2485 1.2500 1.2520 1.2535 1.2550 1.2565 1.2585 1.2600

Bids: 1.2435 1.2420 1.2400 1.2380-85 1.2350 1.2300