The pair is likely to be squeezed in narrow range; a possible trading range is 1.2350/10.
The short of the Yellow metal continues to book more gains for traders, as on Thursday additional support levels were passed.
Thursday has shown even more gains from the US Dollar's side, as the USD/JPY pair has booked new heights.
The Pound tests the bottom boundary of a four-week channel near 1.4050.
The 1.23 area should be watched carefully, as the bottom boundary of the senior channel is located there.
In case the prevailing channel up is to prevail, traders might see a fall down to the 1.41 area this week.
A reversal from a down-trend near the March high of 1.2467 could point to a possible decline during the following sessions.
After the encounter of the upper trend line of the dominant channel down pattern the yellow metal's price has declined.
During the early hours of Wednesday's trading session the USD/JPY currency pair remained in the range reached on Tuesday.
The gains of the bullion have increased on Tuesday. However,
On Tuesday morning the USD/JPY currency exchange rate continued to surge on Tuesday, as the pair reached above the 105.50 mark.
The Census Bureau reported that the country's core durable goods orders came in better than expected, posting 1.2% uptick in February and surpassing the forecast of a 0.5% surge.
The Greenback strengthened against its European counterpart, following the US core durable goods orders data released on Friday.
As the metal's price passed the 1,350 mark, the surge of the bullion was stopped by the first monthly resistance at 1,351.22 level.
On Monday the US Dollar suddenly began a rebound against the monthly PP near the 104.70 mark against the Japanese Yen. However,
The Census Bureau reported that the country's core durable goods orders came in better than expected, posting 1.2% uptick in February and surpassing the forecast of a 0.5% surge.
The Greenback strengthened against its European counterpart, following the US core durable goods orders data released on Friday.
The yellow metal's gains were extended on Friday, as the bullions price surged above the 1,340 mark.
By the middle of Friday's trading the USD/JPY currency exchange rate had extended the decline, as the Buck continued to lose value.
The British Pound jumped versus the Greenback after the UK official bank rate was released on Thursday.
The Euro strengthened against the Greenback, following the release of the EU trade balance report.
The early hours of Wednesday experienced the bullion breaking one resistance level after another, as the various SMAs and a Fibonacci retracement level where passed.
The big event of the week has passed. He Federal Funds Rate announcement has caused an opposite effect to what theory would suggest.
The British Pound strengthened against the Greenback, following one high and two medium impact releases that were published simultaneously on Friday.