EURUSD Pressure continued EURUSD that fell today to 1.0891, the lowest in two months. It is correct that ECB is likely to cut the rates on Thursday rate decision, however such a decision was already priced in and the traders must focus on the monetary policy forward guidance. Industrial production economic sentiment index from EZ will be released later today.

Price action broke the second support, edging lower to the last one which is likely to be executed today, then 1.0845. The technical diagram is almost done, so the reversal may happen soon.

USDJPY Two consecutive days of the positive performance in this currency pair that traded unchanged today at 149.73, the highest since the beginning of August2024. While the Japanese officials are not worried about the weakness of the Yen, Japans CPI numbers after few days will be vital in BoJ rate decision. As China kept injecting cheaper liquidity, Japan is unlikely to target stronger Yen for now. Japans industrial production will be due later today.

Price action is still heading higher, targeting the last major resistance executed then 150. 147.50 146 are important support levels. Positive channel persists.

GBPUSD  GBPUSD traded lower today at 1.3049, waiting for the unemployment rate average earnings later today. BoEs governor Bailey suggested that if inflation pressures continue to ease then BoE may take more aggressive stance on interest rate cuts. The Interest rate in the UK stays at 5 now.

Trading remained…