Pair opened above the last weeks closing level and had the intention to advance even further, but dipped almost 50 pips to 1.02.
Pair started the week way lower than ended the last one, but is slowly picking up and at the moment is trading at the 20 and 55 day SMAs.
Last two trading sessions of the previous week were strongly bearish, as the price dropped from a four-month high at 0.9513 to the 20-day SMA at 0.9421, falling below it for a brief moment.
The Japanese Yen remains under bullish pressure, as the price has been depreciating for a second straight week.
GBP/USD finally settled in the upper part of the Bollinger band, as the pair rallied above the 20-day SMA, located at 1.5054, retested it and closed the session with a positive performance on Friday.
EUR/USD pair's sentiments changed radically over the weekend, as today the pair opened with a huge gap and was traded near the lower Bollinger band at 1.2891.
Bullish sentiments flared up yesterday after the pair bounced to the lower Bollinger band at 0.8164 and they continue to lead the kiwi.
The loonie continues to depreciate, as the price slipped through the 20-day SMA at 1.0258 yesterday and entered the lower part of the Bollinger bands.
The Australian Dollar sharply appreciated yesterday, as the price exceeded the upper Bollinger band by 40 pips and reached the 200-day SMA for a moment.
Consolidation in EUR/JPY continues further, as today the price failed to breach a 125.00 benchmark.
USD/CHF pair's movement is restrained by a four-month high at 0.9513 and the monthly R1 at 0.9488.
USD/JPY has been fluctuating in a narrow channel created by the monthly R2 at 96.36 and the weekly PP at 95.22 for almost a week.
The Cable demonstrates strong bullish sentiments by increasing from the monthly S1 at 1.4866 to the weekly R1 at 1.5110 in three trading sessions.
After a drop to the 200-day SMA at 1.2958, the major currency pair recovered bullish sentiments.
Yesterday the kiwi dropped heavily, slipping beneath the 200-day SMA at 0.8238 and closed the trading session just above the lower Bollinger band at 0.8163.
USD/CAD trades in a very narrow channel last three days, as the price is bounded by the 20-day SMA at 1.0258 and the weekly PP at 1.0285.
The Aussie faced a big drop yesterday, as it slipped to the weekly PP level at 1.0304 without any reason from a technical analysis perspective.
EUR/JPY pair trades in a narrow range, as the price fluctuates between the monthly R1 at 126.16 and the weekly PP at 124.00 for a second week.
Pair depreciated by almost 100 pips in the beginning of the week, but found support at weekly pivot (S1) at 0.9427 and managed not only to recover these losses in the single day, but advance above 0.95 mark.
Pair has appreciated by more than 80 pips in the last few days and, according to the short and medium term technicals, is likely to maintain bullish direction.
In the past 3 days pair managed to appreciate by 150 pips and at some point seemed like it might attempt to return above 1.5, but at the moment it seems that whole enthusiasm has worn of and we might expect only some minor moves for the time being, maybe even till the end of this whole week.
Pairs consolidation at 1.3 was short lived as it tumbled by 140 pips yesterday.
After an attempt to breach the weekly PP level at 0.8247, today the price reverses and breaches the 200-day SMA at 0.8237.
The pair touched the 20-day SMA yesterday and that sparked a bullish impetus, bringing the price back to the weekly PP level at 1.0285.