EUR/USD turns positive, up little around 1.1875-80 region

   •  Subdued USD demand helps gain traction for the fourth consecutive session.
   •  Uptick lacks momentum amid relatively quiet trading session. 
   •  Final US GDP revision eyed for short-term trading impetus.

The EUR/USD pair regained some positive traction on Thursday and held with modest gains for the fourth consecutive session. 

Optimism over the passage of a major US tax overhaul bill now seems to have faded, with a subdued US Dollar demand helping the pair to stall overnight rejection slide from the 1.1900 handle. 

The pair found some support near the 1.1865 level but in absence of any fresh fundamental catalyst, seemed lacking any strong conviction. 

There aren't any major market-moving economic releases due from the Euro-zone and hence, the final US GDP growth figures would now be looked upon for some fresh impetus.

Today's US economic docket also features the release of Philly Fed Manufacturing Index and the usual initial jobless claims, which might also contribute towards providing some momentum during the early NA session.

In the meantime, the USD price dynamics would continue to act as an exclusive driver of the pair's momentum through the European trading session, in a rather lackluster pre-holiday trading action. 

Technical levels to watch

Bulls would be eyeing for a sustained momentum beyond the 1.1900 handle, above which the pair is likely to dart towards testing the 1.1930-40 supply zone.

On the flip side, 1.1850-45 zone now seems to protect the immediate downside, which if broken could accelerate the fall back towards the 1.1800 handle en-route 50-day SMA support near the 1.1770-65 region.