<p style=““ class=“text-align-justify“>The pair was already looking vulnerable but we are starting to see things pick up now with a break below 140.00 and that marks a big psychological blow for buyers, who have held on to a more bullish outlook in the pair for the longest time.</p><p style=““ class=“text-align-justify“>This is the first time since the start of September that the pair has traded below 140.00 and the technical picture doesn’t look pretty whatsoever:</p><p style=““ class=“text-align-justify“>A fall back towards 135.00 is easily on the cards and we might even course correct towards the 200-day moving average next (blue line), considering how long it has been since the last meaningful technical correction in the pair.</p>

This article was written by Justin Low at forexlive.com.