Price action in the pair remains below 200-DMA at 1.1093, intraday bias .
Upside finds stiff resistance at 1.120 ( support turned resistance).
Recovery attempts from post-referendum lows capped below and we see reversal in trend only on breaks above 1.120 (1.1385 target).
Techs support further downside in the pair, momentum studies , and biased lower.
Good to sell rallies around 1.1050; SL: 1.1120; TP: 1.10/ 1.0940/ 1.0912
Resistance on the upside aligns at - R1:1.1067 (50% Fib of Dec to May rally); R2:1.1093 (200-DMA); R3:1.120 ( and 38.2% Fib).
Supports on the downside are located at - S1:1.1002 (July 8 low); S2:1.0937 (61.8% Fib); S3:1.0912 (June 24 low).