Gbpusd has formed bullish pin bar pattern on H4 time frame. 1.2840 is near term support level and this pair pulled back from this level and trying to build up bullish momentum. 

Having found fresh bids once again near 1.2860 region in Asia opening trades, the GBP/USD pair kept its steady recovery mode intact, with the bulls regaining the bids heading into the all-important UK services PMI report due on the cards later today.

Currently, the spot remains in the lower bound of this .........

Eurusd has pulled back after daily bearish engulfing pattern due to FOMC effect. Near term resistance lies on 1.0950 level. Breakout of this level can bring this pair upto 1.1000 resistance level which can be strong level for this pair.

Focus on Friday’s payrolls & wage growth numbers

The Fed statement cheered the continued strength in the labor market despite slowdown in the first quarter. This has put the focus back on the NFP. A combination of strong payrolls and wage growth .........

The USD/JPY pair is trading just below 112.15 (38.2% fib retracement of 118.66-108.13) this Wednesday morning after having failed to hold above the same on Tuesday.

The spot clocked a high of 112.31 on Tuesday and was last seen trading around 112.05 levels

Eyes FOMC statement

The Fed is expected to keep rates unchanged today. However, investors would scan the policy statement for clues regarding June rate hike and more importantly on whether the central bank intends to begin trimming its balance sheet .........

The EUR/USD pair found takers at 50-DMA level of 1.0888 in Asia. The trend line sloping downwards from Apr 2016 high and Nov 2016 high is seen offering resistance around 1.1020. A break above the same would signal the sell-off from April 2016 high of 1.1616 has ended i.e. trend reversal.

Eyes FOMC statement

The break above the trend line depends on the tone of the Fed policy statement. The CME data shows the June rate hike probability stands at 70%. This means a .........

The GBP/USD pair built onto yesterday’s recovery gains beyond 1.29 handle in Asia, now looking to regain 1.2950 barrier amid a broadly subdued US dollar and moderate risk-on.

The spot finds support from upbeat UK fundamentals, after yesterday’s sharp rise in the manufacturing PMI data, while the latest BRC shop price index data showed that the shop price deflation in April was the smallest in nearly 3-1/2 years, which keeps the sentiment  buoyed around the GBP.

However, over the last hour, the spot is seen consolidating .........