The yellow metal has hit the 1,300 mark, as it was expected throughout last week.
The US Dollar is continuing to lose value against the Japanese Yen simultaneously in two descending channels.
The common European currency continues to trade against the US Dollar in the medium term descending channel pattern.
Beginning of the new week the British Pound started in a descending triangle pattern against the US Dollar.
The surge of the yellow metal continues, as forecasted. A new target has been pierced and set.
The US Dollar has returned to the zone close to the lower trend line of the large scale triangle pattern against the Japanese Yen.
After a full review of the technical situation on the GBP/USD pair, notable facts have been revealed.
During the last trading session the EUR/USD pair has acted rather unexpectedly, breaking the week long streak of precise forecasts.
The bullion has rebounded against a previously described cluster of support. The next target of the bullion is the monthly R1 at the 1,292.91
The Greenback extended losses against the Yen, as the US Building Permits report disappointed market expectations.
A combination of the stronger-than-expected average earnings growth and lower unemployment in the UK contributed to a sharp increase in the GBP/USD.
The common European currency continues to trade against the US Dollar in the medium term descending channel pattern. Moreover,
The bullion has reached a cluster of various supports and reached below the 1,270 mark. The move was expected. However,
The EUR/USD pair has reached another target, as it has bounced off the support line of the medium term ascending channel pattern. The forecasting of the pair's movements has been becoming increasingly easier during this week.
The report on the US worker productivity, which revealed a higher-than-anticipated increase in the Q2, resulted in a jump of the USD/JPY currency pair.
The GDP/USD fell sharply to the lowest level in four weeks, as the Britain's consumer price inflation report showed weaker than expected reading for July.
The yellow metal is declining, as expected. However, the next target of the metal's fall has already been spotted.
The common European currency continues to decline against the US Dollar in the recently adjusted channel down pattern.
The report on the US worker productivity, which revealed a higher-than-anticipated increase in the Q2, resulted in a jump of the USD/JPY currency pair.
Positive Britain's economic reports for June resulted in a solid jump in the GBP/USD exchange rate right after the data came in.
The 1,290 mark has been hit. More gains in the short term is not expected, as the bullion is retreating on Monday.
During the second half of Friday's trading session the EUR/USD surprised some market participants, as the rate bounced out of the borders of the drawn descending patterns.
The report on the US worker productivity, which revealed a higher-than-anticipated increase in the Q2, resulted in a jump of the USD/JPY currency pair.
Positive Britain's economic reports for June resulted in a solid jump in the GBP/USD exchange rate right after the data came in.