Momentum has slowed somewhat; any further decline is likely part of a lower trading range of 1.0490/1.0580.

Scope for the Pound Sterling (GBP) to retest the 1.2630 level; the major support at 1.2615 is unlikely to come under threat.

Provided that 0.6490 remains intact, the Australian Dollar (AUD) could decline further; the major support at 0.6400 is unlikely to come into view.

The New Zealand Dollar (NZD) is expected to continue to weaken; given the deeply oversold conditions, it remains to be seen if 0.5815 will come into view.