Despite a significant risk of the Cable breaking the negatively-sloped resistance line at 1.6450 last week, in the end the bears took the upper hand and forced the Sterling to retreat to 1.63.
The European currency is still headed South, where it is about to meet one of the key levels, namely the 2013 low.
The NZD/USD cross has fluctuated mostly between 0.81 and 0.82 levels, while today it is hovering around the 0.8150 mark.
USD/CAD has performed poorly this week; moreover, it extended its decline further today.
The AUD/USD currency pair has lost some of its value this week, as the Aussie cannot find a bullish impetus and it has even fallen below the psychological level at 0.90.
In general, this week has been positive for EUR/JPY bulls, as most likely the pair will post a second straight weekly gain.
The pair took a major hit after approaching the 2013 Sep high, meaning there is a formidable resistance area around 0.9450.
USD/JPY continues to gain ground, and for now it does not seem to be noticing the resistance at 109 formed by the weekly R2 and 2008 Sep high.
Although GBP/USD hesitated at first, in the end it broke a tough resistance area near 1.63.
EUR/USD did not manage to reach last year's low yesterday and returned to the monthly S2 at 1.29, which is now acting as a ceiling.
NZD/USD retreated around 100 pips yesterday until the decline was halted by the major level at 0.8100.
Yesterday USD/CAD managed to climb above the 1.10 level; however, today the pair dropped below this level again.
After reaching February high at 0.9081 the AUD/USD currency cross gave up and plummeted below the 0.90 level.
The Euro has received a bullish impetus once again, the pair has breached the major level at 140 and now is challenging June high at 140.11.
Dukascopy Aggregate Technical Indicator for 30 min and 1H time frame charts for major pairs for the last 144 periods till 15:30 GMT.
USD/CHF has finally escaped the boundaries of the flag pattern it has been forming the last two weeks.
Following a brief correction USD/JPY jumped 140 pips in one day, effortlessly piercing through the monthly R3 in the process.
Despite the U.S. Dollar appreciating across the market, the currency was unable to outperform the British Pound, which in turn is currently attacking the resistance area between 1.63 and 1.635.
The currency pair lived up to the expectations by breaking out of the recently formed rising wedge to the downside.
The New Zealand Dollar has traded around the monthly S2 at 0.8176 for the last five trading days and for now it seems that NZD/USD is likely to continue hovering around this level.
Since the USD/CAD cross touched the major level at 1.11 it has disappointed the bullish traders as the pair has dropped below the 1.10 mark.
AUD/USD were not able to break the 0.91 level yesterday, while today the pair slipped towards the 0.9050 mark.
The Europe's currency tested the monthly R2 at 139.19 again, after breaching the major level at 139. Apparently, the pair remains bullish as it repeatedly tries to surpass the previously mentioned levels.
USD/CHF is presently well-supported by the monthly R2 at 0.93, meaning there is a high chance the bulls are eventually going to emerge victorious and make the Greenback surpass the recent highs.