The dollar started this week declining against majors, the USDIX dropped today recording a low of 78.77.
The EUR/USD pair inclined reaching a high of 1.4209 and a low of 1.4171, having the union currency trading around 1.4200.
The GBP/USD, it also gained recording a high of 1.6719 and a low of 1.6667, having the pound trading around 1.6715 , and the dollar weakened against the yen and the pair reached a low of 97.07 and a high of 97.77. Cheerful fundamentals were released today from Japan showing a widening trade balance surplus and an improvement in machine orders, which supported the yen to recover some of the losses.
EUR/USD
The EUR/USD can breach the 1.4320 pivot support and target the 61.8% correction as we mentioned earlier at Friday , we expect the pair is to recover some of the losses and incline on an intraday basis targeting 1.4330, as far as 1.4163 remains intact.
GBP/USD
We expected to the GBP/USD to take upside targeting to 1.6906, supported by the stochastic in an oversold area and as far as trading holds above 1.6625. A breach of this level to the downside will take the pair towards 1.6485.
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