The Pound Sterling continued trading sideways against the US Dollar for the third consecutive trading session.
On Monday morning it could be observed that the yellow metal's price pierced the support of a medium term ascending channel pattern.
The US Dollar has continued to trade near the 111.00 mark. However, on the daily chart
EUR/USD relatively calm during the Asian session.
The GBP/USD pair was stranded between SMAs during the morning hours.
Friday's session begins with XAU/USD trading with low volatility
The Sterling faces a strong resistance cluster which may not surrender today.
Downside potential is still apparent for EUR/USD in this session.
The USD/JPY currency exchange rate was stranded between SMAs during the morning hours of Friday's session.
Breakout has occurred through the upper boundary of a descending channel on the XAU/USD pair today.
The Pound is hindering near the 200-period (4H) SMA circa 1.3210.
The 55-hour simple moving average is likely to guide the pair in this session.
The Euro is approaching weekly resistance at 1.1750.
XAU/USD fails to accelerate on Tuesday.
The monthly resistance level at 111.20 pressurizes the USD/JPY currency pair downwards on Tuesday.
Bearish momentum should still be the dominant force today.
Traders should watch the 55- and 200-hour SMAs at 1.3120.
A breakout from the 100-hour SMA should be followed by a further fall.
Technical indicators suggest that bears might continue dominate the pair today.
Gold is starting to show some signs of a recovery.
The fresh weekly S1 has managed to provide enough support to push the currency exchange rate higher.
The Pound is likely to be bound by several SMAs today.
The Euro has remained stable against the Greenback this morning, as the pair has approached a strong resistance cluster.
A breakout from 112.10 should be the beginning of another decline.