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The US dollar regained a bit of ground against its peers despite mixed reports from the US.
EURUSD is moving inside an ascending channel on its 4-hour chart and is currently approaching the resistance at 1.0950 to 1.1000.
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The US dollar regained ground on a strong equity market performance on expectations for Trump's tax reform announcement on Wednesday.
GBPJPY recently had lower highs and found support at the 137.00 major psychological level, creating a descending triangle pattern.
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The US dollar was off to a weak start for the week as risk appetite returned on the outcome of the French elections.
GBPUSD had previously been trading inside a range with support at 1.2100 and resistance at 1.2700. Just recently, price made an upside breakout, signaling that further gains are likely.
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The US dollar was mostly stuck in consolidation against its peers as traders appear to be waiting for the NFP report and for geopolitical risks to subside.
GBPUSD has formed lower highs and higher lows on its 1-hour time frame, creating a symmetrical triangle pattern that could be due for a breakout soon.
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The US dollar was in a weak spot against its peers as the FOMC minutes focused on the idea of adjusting the balance sheet and the fact that fiscal stimulus might not take effect until next year, something that was underscored by Speaker Paul Ryan who said that tax reform could take longer than the healthcare overhaul.
GBPAUD formed lower highs and higher lows, creating a symmetrical triangle formation on the 4-hour time frame.