EUR/USD Doing Little, Remains Capped Ahead of Initial Resistance

EUR/USD has traded sideways within a 25 pip range for the past four hours after initially bouncing from session lows on the weaker than expected US GDP numbers. Initial resistance remains on the hourly time frame at 1.3047 with the 1.3093 level seen as more important. Lower levels remain favoured while 1.3093 caps.