A two day surge, which began on June 19, continued on Thursday, as the US Dollar reached higher against the Japanese Yen.
The Pound is expected to bounce off the channel line near 1.31 today.
A surge should follow if the 55- and 100-hour SMAs at 1.16 are breached.
Technical signals point to soon recovery of the GBP/USD exchange rate.
The Euro still remains weak, thus trading near its one-year low.
XAU/USD reaches one-month low level.
The USD/JPY exchange rate plummeted due to the US and China rising trade tension.
The Euro remains trading in a short-term channel up.
GBP/USD reached new 2018 low early on Tuesday.
As Fundamental events took place on Friday, the bullion plummeted below all technical support levels and reached below the 1,280.00 level.
During the early hours of Monday's trading session the US Dollar was losing ground against the Japanese Yen until it found support in a new level of significance.
The Pound re-tested many-month low near 1.3230 on Monday morning.
EUR/USD remains weak near one-year low.
After breaching the 1,300 mark, the yellow metal's price declined on Friday.
Although the volatility of the currency exchange rate remains at the same high level as previously, the currency exchange rate has continued to follow the forecast path.
GBP/USD is likely to push towards the 1.3350 area today.
The Euro is calm this morning after the massive 2.28% plunge on Thursday.
On Thursday the yellow metal managed to pass the resistance of the 1,300 level.
The resistance cluster near the 110.75 mark had managed to holds its ground and force the currency exchange rate into a retreat.
The 55- and 100-hour SMAs could pressure the Euro higher today.
The Sterling could break out from bearish channel.
Wednesday morning gave some clarity to the traders of the yellow metal, as the commodity price declined and moved out of the previous horizontal range.
The Greenback continues to gain ground against the Japanese Yen, as the next resistance target had been reached on Wednesday.
Technical signals point to a decline in this session.