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.
The strong plunge mid-Tuesday was stopped by the 200-hour SMA.
On Tuesday morning the yellow metal's price remained below the 1,300 mark.
The surge of the US Dollar against the Japanese Yen continued on Tuesday, as the currency exchange rate extended its gains.
GBP/USD breached the 200-hour SMA early on Tuesday which might point to further downside potential.
The Euro has fallen in a range between the 55-, 100- and 200-hour SMAs.
The bullion has made and failed at another attempt to surge above the 1,300.00 mark.
The previously described dominant support of the USD/JPY currency exchange rate has done its job.
The Euro has accelerated against the US Dollar following a reversal from 1.1740 mid-Friday.
The Sterling found support at the 100-hour SMA early today.
The most notable developments on Friday on the charts of the yellow metal were on the daily chart.
On Friday, the USD/JPY currency exchange rate had retreated down to the support of the dominant ascending channel up pattern.
Technical indicators point to further decline today.
This session might be led by the 55-hour SMA.
The yellow metal remains in the previous ranges. However, there is something more notable than the price level.
On Thursday the USD/JPY currency exchange rate had declined below the 110.00 mark.