FX MARKET REPORT 04.08.2020
GBP/USD bears catch a breather after a two-day losing streak, pullback from 1.3000 be the key. GBP/USD stays depressed following the break of an eight-day-old rising trend line. Failures to cross March month’s high, lower high formation favour sellers. Bulls seek a clear break of 1.3200 to extend the previous upside. EUR/USD is fighting with the 1.1780 resistance as Tuesday’s 4-hour chart is showing the currency pair bounced off 1.17, a critical support. On the flip side, the 1.1735 level is the first support seen. The U.S. Dollar Index was down 0.1% at 93.442. USD/JPY was up 0.1% at 106.05.