Entering into US session, Sterling remains the weakest one for today as selloff accelerates after CPI miss. Technically, GBP/USD’s break of 1.3048 confirms resumption of fall from 1.4376. EUR/GBP is extending the rebound from 0.8620 even though momentum is weak. GBP/JPY’s break of 147.63 minor support suggests short term topping at 149.30, ahead of 149.99 resistance. GBP/CHF is on the verge of breaking 1.3022 to resume down trend from 1.3854.
On the other hand, Dollar and Swiss Franc are taking turn to be the strongest one for today. USD/JPY has taken the lead earlier this week, then followed by GBP/USD in breaking out. Focus will now be on which pair to follow, EUR/USD, AUD/USD or USD/CAD. But at the same time, the strength in Swiss Franc is worth a note. EUR/CHF is now pressing 1.1618 minor support. Break there will be an early signal of completion of whole corrective rise from 1.1366. And in that case, we’d see the cross heads back to 1.1366 low.
