As the tech resistance mounts on the upside there are a couple of big levels to watch for on the downside.
First up we have the 55 wma at 1.2882 and then a long term trend line from July 2012 at 1.2860.
To the upside the the 55 & 200 dma’s are looking to converge around the 1.2990 area which will make any upward moves a hard task. Further up we have the 200 H4ma at 1.3028.
I mentioned in the comments that the GDP data today could present the opportunity to get shorts on at some decent levels rather than to take longs on the back of any upside releases.
