After being located near the upper wedge boundary on Thursday morning, GBP/USD was pressured lower and consequently pushed through the weekly R1 and the 55-hour SMA down to the 1.3060/85 area.
On Friday morning the common European currency was regaining the losses suffered against the US Dollar
Due to the announcement of the Fed's Federal Funds Rate yesterday, this matched with combined support level formed by the 20-, 55- and 100-hour SMAs, the currency pair skyrocketed through the 50% Fibonacci retracement level at 0.7457, the weekly R1 at 0.7525 and the monthly R2 at 0.7535.
In accordance with the yesterday's prognoses, the currency pair failed to bypass a resistance barrier that was set up by the 100-hour SMA at 1.2536.
In line with expectations, after bouncing off from the 200-hour SMA and the monthly PP at 0.7898 the currency pair made new attempt to break through the one resistance barrier, whose existence was confirmed by three Williams fractals, and then the second one, which was set up by the weekly R1 at 0.8010.
The way the currency pair fluctuated over the last 24 hours confirms that it is located within an ascending triangle, where the upper trend-line is formed by the weekly R1 at 130.56.
Most patterns and technical analysis in general has become obsolete on the XAU/USD chart.
Thursday's morning started relatively calm, as USD/JPY was driven by low volatility for most of the session.
Contrary to the relatively flat movement sideways that was apparent during the last two trading days, the Pound surged against the US Dollar mid-Wednesday after not being able to pass through the weekly PP at 1.3019.
The common European currency was positioned to suffer losses against the US Dollar on Wednesday morning
In line with expectations, a pressure from the 55-hour SMA in combination with a number of macroeconomic data releases pushed the currency rate from a reverse symmetrical triangle downwards.
Due to announcement of the US CB Consumer Confidence yesterday, the Greenback has appreciated against the Loonie by 37 basis points and drove the pair out of the symmetrical triangle.
Since the road upstairs did not have any meaningful barriers, while the southern side became protected by a combination of the 20- and 55-hour SMAs, the currency pair made a breakout from a symmetrical triangle to the north.
Contrary to expectations, the currency exchange rate did not bounce off from the upper resistance line of a symmetrical triangle, but, instead, broke through it.
The strength of the monthly pivot point has proven itself to be strong enough to force the yellow metal's price into breaking the ascending channel pattern, which guided the bullion since July 11.
On Tuesday, solid upside risks pushed the Greenback through three resistance levels, namely, the 55– and 100-hour SMAs and the weekly PP.
The Pound was relatively steady on Tuesday morning, being supported by the weekly PP and the 55– and 200-hour SMAs circa 1.3015.
On Wednesday morning it could be observed that the speculated reaching of the 2015 high level had became reality for the EUR/USD currency pair.
In line with expectations, the NZD/USD did not make any new attempts to break through the 50% Fibonacci retracement level at 0.7457 and settled down near the monthly R1 at 0.7435.
Once the currency exchange rate fell below the monthly S2 at 1.2552, it was moving along the 20-hour SMA until this morning, when a rebound from the bottom trend-line of a symmetrical triangle happened.
The assumption said yesterday was partially confirmed. On the one hand, the currency pair made a third rebound near the 0.7960-65 levels, where is located an alleged triangle's resistance line.
An early Tuesday morning the currency exchange rate met in a limbo between the 55-hour SMA and the weekly PP at 129.57 from the top and a combination of the 20-, 100- and 200-hour SMAs from the bottom.
As it was expected, the monthly PP at the 1,258.37 mark put up resistance to the commodity price.
Contrary to expectations, the Greenback failed to reach the weekly S1 at 110.48.