EURO vs US Dollar
The euro formed a bearish pennant above short-term support near $1.22, warning of another down-swing. Downward breakout would confirm, offering a long-term target of parity*. Recovery above $1.27 is unlikely, but would suggest a bear trap.
UK Pound Sterling vs US Dollar
The pound is testing the new resistance level at $1.48. Respect would confirm the medium-term target of $1.38, but bullish divergence on Twiggs Momentum (21-day) favors a reversal. 
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