Not much bounce in this pair since it started falling from 1.38 last night. Nevertheless, there is strong technical support at 1.3640 (38.2% 1.26/1.4280) which must be respected. G20 is expected to be a non-event. Sovereign issues still weighing but some of the crosses like EUR/GBP have already fallen a long way.
Conclusion: Bearish but prefer selling rallies from current level at 1.3665. Play a 1.3635/1.3735 range during Asia with a bearish bias.
