The pair remains under pressure ahead of the important ECB rate decision (11:45 GMT) and M. Trichet statement (12:30 GMT).
The downside move is supported by a long term trendline going through the key 1,40 support. A break and daily close below this level would validate a potential shift in the trend and expose a continuation to the downside.
We need to see a break back above 1,4550 to negate the bearish outlook.
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