The Sterling closed the previous trading session by gaining 56 pips against the US Dollar.
Upside momentum prevailed in the market on Tuesday, as the Euro closed the day with a 64-pip gain against the US Dollar.
As expected, the NZD/USD pair breached the upper boundary of the dominant channel.
The US Dollar has breached the lower boundary of the previously-active junior channel against the Canadian Dollar
As it was expected, the Australian Dollar continued to rally against the US Dollar.
Despite signals showing possible recovering during the previous trading session, the EUR/JPY pair failed to overcome the bearish pressure, and by the end of the European trading session, the currency pair lost 124 points.
The yellow metal was stranded between the bounds of the 55– and 100-hour SMAs during the first part of Monday.
The US Dollar remained steady against the Japanese Yen on Monday, as it was trading in a narrow 108.70/50 range.
Lack of fundamantal events on Monday resulted in the Pound moving sideways against the US Dollar.
The Euro was driven by upside risks on Monday.
As it was expected, the New Zealand Dollar extended its gains until it reached the weekly resistance level against the US Dollar.
Friday's trading session confirmed that the US Dollar is gradually losing strength against the Canadian Dollar. The 55—hour SMA has restricted the pair from making further gains.
Upside movement prevailed during Friday's trading session and thus sent the Australian Dollar rallying against the US Dollar.
The 55– hour simple moving average is preventing the EUR/JPY pair from making further gains as the common European currency continues to trade in a channel down against the Japanese Yen.
The 55-hour SMA was pressuring XAU/USD from the upside for the whole session on Friday.
The US Dollar was fluctuating considerably against the Yen during the previous trading session.
Friday's morning session was spent relatively calm for GBP/USD, as it was restricted from both sides by the 55– and 100-hour SMAs.
The common European currency remained stable against the Greenback on Friday, as it was confined within the bounds of the 32.20% Fibo retracement and the monthly PP at 1.2225 and 1.2289, respectively.
Even though the New Zealand Dollar has increased its trading range against the US Dollar during the previous trading session, the pair failed to make any substantial movement.
The US Dollar has been trading in a channel up against the Canadian Dollar since February 2. After testing its upper boundary on February 6, the pair entered a period of consolidation and has been trading in low volatility.
The Australian Dollar has been confined by a channel down against the USD Dollar since late January.
A strong support cluster near the 132.92 mark, which is made up of the combination of the monthly and the weekly pivot points stopped the decline for the EUR/JPY pair.
As previously expected, the yellow metal was driven by upside risks on Thursday.
USD/JPY spent Thursday's morning in between the bounds of the weekly PP and the 100-hour SMA.