A pivot resistance at 1.3230/1.3245 has continually capped the upside. Even if there was to be a tick higher, the resistance overhead is huge now. We have previously discussed the importance of the old long term pivot band around 1.3300, a level which is now key resistance. The break below the June low of 1.3310 came in early August and we believe that this has opened the way to test the key December/January support around 1.2950.
Regards
I.A