The Asian session is nearly done but the European one promises to provide some more volatility.

The sentiment towards the EUR remains bearish and I think we should look to the crosses for the next major momentum. If EUR/GBP support at .8445 breaks then we could see another wave of EUR selling and with EUR/CHF and EUR/JPY showing signs of wanting to return to their bearish trends, the outlook remains dodgy for the single currency.

My downside target remains the 61.8% retracement coinciding with a bullish trendline around 1.3240. Hourly resistance starts around 1.3440.