The GBPUSD has extended lower reaching a new cycle high in the process. The low price from Tuesday's trade was broken at 1.18066 on its way to a session low of 1.17988. The pair is finding support buyers near the natural/option related 1.1800 level. The price has bounced modestly to 1.1808, but has continued its run to the downside as other USD related pairs also run into the greenback.
- The EURUSD is fallen below its parity level and this time seeing a stops being triggered. The price has moved down to 0.9971 on the break so far. Traders will now need a move back above the parity level to give any hope.
EURUSD breaks and runs below the parity level
- The USDCAD is also racing to a new session high as it continues to trend in the upward direction.
- Add the USDCHF, AUDUSD, NZDUSD to the dollar buying run.
The only pair that has not printed a new high for the day is the USDJPY, but it is getting closer and has had a pretty significant run already to the upside today.
US stocks sets to open lower.