GBP/USD tops 1.2700 ahead of UK retail sales, BOE

GBP/USD has extended its gains above 1.2700 after the Fed opened the door to rate cuts. UK retail sales, the Bank of England's decision, and two more rounds of the Conservative contest await traders.

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EUR/USD extends its gains toward 1.1300 after the dovish Fed decision

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AUD/USD Intraday: Bullish bias above 0.6880

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Better-than-expected US data gave the greenback a lift at the end of the week

The EUR/USD pair started the week losing the positive momentum triggered by a dismal US Nonfarm Payroll report Friday, retreating from the fresh over two-month high of 1.1347. A tweet from US President Trump over the weekend, indicating that the country and Mexico reached a deal and that he would not apply tariffs to Mexican imports, brought some relief to the financial world and the greenback.




Yohay Elam

EUR/USD has enjoyed the dovish decision by the Federal Reserve and is already eyeing the next levels. Where next for the world's most popular currency pair?

The Technical Confluences Indicator shows that EUR/USD has broken above a dense cluster of lines at 1.1258 which now serves as support. This includes the Bollinger Band 15min-Lower, the previous daily high, the Pivot Point one-month R1, the BB 4h-Upper, the Fibonacci 38.2% one-week, and the PP 1d-R1.

This line may serve as a springboard to move up. Weak resistance awaits at 1.1293 where the Fibonacci 61.8% one-week awaits the pair.

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