Short below 12070 with 12048-12020 target. Long only if can recover to above 12086.
14:10 GMT - We can observe that the decline since the asian session has continued into the start of the US session because during the European session the pair has failed to move above the physiological level of 12100.
Trade closed: target reached
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03:00 GMT Tue 27th, Oct 2015 - The pair has moved down and reached the 12048 target as predicted.