The high a few weeks ago was 1.4842 and dealers expect to see a lot of stops now parked above that level. The overnight high was 1.4820 and there was a sharp pullback from there so there is obviously also some selling interest around. From an intraday perspective I’m looking to trade a 1.4740/1.4840 range with a bullish bias. Medium term bulls should only start getting worried below 1.4640.