How does the GBP/USD look like?
Daily Market Analysis
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
S&P was looking upwards just a day ago. Something changed?
After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.
GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum.
CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.
After testing the lowest levels since 2016 in the 101.18 area earlier this week, USD/JPY turned up and returned above 105.00.
After opening the week with a gap up, EUR/CAD formed two inside bars on the D1. This is the sign that the advance has run out of steam.
The decline of USD/CHF from February highs to March lows was epic. The pair then reached support at 0.9185 (2018 low) and turned up.
After forming a diamond-like top below 1,700, XAU/USD went consolidating. Pay attention to the support and resistance levels!
USD loses value against the EUR. How much of an issue is that?
EUR/USD has reached December high at 1.1240 and is actively testing levels above it. The picture at the chart changes very fast.