In accordance with expectations, boundaries of a symmetrical triangle proved to be not strong enough to confine the falling Greenback shortly after announcement of the US Advance GDP. However, the fact that the drop was neutralized already by closest support level set up by the weekly S1 at 110.48 indicates that it was not severe. That, in turn, allows assuming that the pair might successfully reach the combined resistance level formed by the 55-hour SMA and the updated weekly PP at 111.16. Given that the further road upstairs is blocked by the 100- and 200-hour SMAs as well as the monthly PP at 111.38, suggests the currency rate is going to make a rebound and begin to move to the south in line with the general downtrend.
