EUR/USD: Still stuck in tight consolidation range

EUR/USD is stuck between 1.3140/80 at present, and has been for the last 24 hours. Central banks have been active on both sides of this pair and in cable, probably doing their end-of-year square-up, and this has helped to keep the short-term ranges in place.

A break above 1.3180 should be good for at least a 50 pip rally and similarly a clean break below 1.3140 will also trigger trailing stops.

Any trader who put themselves in range trading mode on January 1st 2012 will probably be retired already!

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