EUR/USD analysis for February 15 2021 - Broken slope pattern and potential for drop towards 1.2050

UK PM Johnson: If we possibly can, we will be setting out target dates for earliest reopening Comments by UK prime minister, Boris Johnson No decisions have been taken on exact date to reopen schools Hoping to do so by 8 March We will try to set out a roadmap out of lockdown

Johnson is managing expectations a little before he gets into more detail on plans for the UK to exit lockdown next week. Nothing out of the ordinary so far but there is a degree of optimism going into next week's announcement.

Further Development

Analyzing the current trading chart of EUR/USD, I found that the buyers got exhausted today, which is good sign for further downside movement.

The price broke upside sllope pattern and I see potential for further drop towards 1,2052 and 1,1955.

Watch for selling on the rallies with the first target at 1,2055.

Key Levels:

Resistance: 1,2145

Support levels:1,2052 and 1,1955.