The Pound tries to recover after a fall on Tuesday.
The common European currency managed to regain some lost positions on Wednesday morning; strong resistance ahead.
Due to the decline of the US Dollar across all charts, the commodity price of the yellow metal has surged on Tuesday.
The US Dollar has extended its decline against the Japanese Yen on Tuesday.
The Pound still pressured lower by the 55-hour SMA.
Political uncertainty in Italy continues to weigh heavily on the common European curreny.
After booking large gains at the end of the last week, on Monday morning the yellow metal once more traded below the 1,300 mark.
Even though the Friday's trading session ended at a strong resistance, the rate passed it by opening a lot higher on Monday.
Bullish sentiment should prevail today; however, gains should not surpass the 1.3380 mark.
It seems that the 100-hour SMA at 1.1725 is likely to provide strong resistance in this session.
The yellow metal has finally succeeded in breaking above the 1,300 mark.
The Friday's trading session seemed to book the end of the US Dollar's decline against the Japanese Yen.
The common European currency still remains under pressure by the 55-hour SMA.
The Sterling moves along the 55-hour SMA for the second consecutive session.
On Thursday morning the yellow metal's price made another attempt to approach the 1,300 mark.
On Thursday morning the US Dollar booked a new low level against the Japanese Yen.
Strong resistance cluster that could restrict the Pound's appreciation is located at 1.3415.
EUR/USD is targeting the 55- and 100-hour SMAs near 1.1760 early on Thursday; a breakout of this area should send the pair to 1.18.
Although on other pairs it could be noticed that the US Dollar is declining, the yellow metal's price did not plummet on Wednesday morning.
The various support levels of the USD/JPY failed on Wednesday. The currency exchange rate
The Sterling returns to its six-month low of 1.34.
The Euro remains restricted from the upside by the 55- and 100-hour SMAs for the third consecutive day.
On Tuesday morning the yellow metal's price remained below the 1,300 mark.
After the long continuous surge the US Dollar has retraced downwards against the Japanese Yen.