Technical Analysis

Last Friday, EUR/USD encountered notable resistance at 1.0790, influenced by multiple factors signaling potential market shifts.

When yields on US Treasury bonds decrease, it can lead to a decreased demand for the US dollar, thereby causing its value t decline against other currencies like the Japanese yen.

The pound softened ahead of Thursday's Bank of England (BoE) meeting, with the possibility of a rate cut in June hovering near 50% odds.

The GBP/USD currency pair experienced a 0.30% decline, reaching 1.2520 and slipping below recent lows.

The USD/JPY pair experienced a significant 0.6% increase on Monday, albeit with potential limitations on further upside movement expected before the release of key U.S. economic data on May 15th

GBP/USD saw an upward movement recently but struggled to maintain momentum, particularly evident in its failure to close above the 200-day SMA.

The EUR/USD currency pair opened trading near the 1.0700 level, with the most recent transaction occurring at 1.0725.

The recent market movements in the EUR/USD pair reflect a complex interplay of economic indicators and central bank communications.

The recent trading activity in GBP/USD indicates a downward trend, evidenced by a 0.5% decline and a test of the critical support level at 1.25.

The EUR/USD currency pair exhibits a moderate increase to 1.0728 following the release of US GDP data