Our best spreads and conditions

Meanwhile, any subsequent recovery beyond the 1.2200 round figure mark now seems to confront some fresh supply near 38.2% Fibo. level – around the 1.2215-20 region, ahead of 50% Fibo. level near mid-1.2200s.
Given the overnight bearish break below a five-month-old descending trend-channel, the attempted recovery might still be seen as a selling opportunity, albeit a move beyond the mentioned resistance might negate the near-term bearish bias.
A sustained strength beyond mid-1.2200s now seems to trigger some aggressive short-covering move and lift the pair further beyond the 1.2300 round figure mark towards testing its next major supply zone near the 1.2330-40 region.
On the flip side, the 1.2110 region (March 2017 swing lows) remains a key support, which if broken might prompt fresh technical selling and turn the pair vulnerable to extend the downfall further towards challenging the key 1.20 psychological mark.