FX.co ★ Evening review 01/13 EURUSD. Euro chooses a direction

Two factors played against the euro on Monday:

1. Negative news on the British economy - probably we are waiting for a halt in GDP growth and a decrease in the Bank of England rate - as a reaction to Brexit.

2. A breakthrough of the dollar-yen above resistance at 109.75.

As a result, the euro did not fall, but the pressure on the euro intensified.

Thus, two scenarios became equally probable:

1. Growth to 1.1205, a breakthrough and movement at 1.1240.

2. A break out at 1.1085 and fall to 1.1000 onwards.