EU/USD, July 21, 7am UK Time

After a multi-day up move to the 1.3 level, this pair has retraced to the 38% Fib level, bounced up one Fib level and tries to find direction again. The broad blue zone marks a pretty crowded trading zone limited to the upside by the daily pivot. I see less resistance to the downside. Key levesls are 1.2835, 1.28 and 1.2774,

EU/USD, July 21, 7am UK Time