The only way you can succeed is to override the obstacles in your path.
USD
EUR/USD
The single currency soared to $1.1877, on comments from European Central Bank's Vice President Luis de Guindos and ECB Strategy Meeting Accounts favored mildly strong inflation while staying cautiously optimistic over growth numbers.
GBP/USD
Pound vaulted to $1.3982 after the reports surfaced that UK scraped quarantine status for fully vaccinated EU and US visitors, but retreated to $1.3938 over Brexit woes over Northern Ireland protocol.
USD/JPY
Yen surged to 109.35 per dollar, following Bank of Japan board member Asahi Noguchi's interview that the BoJ may be able to begin the debate on strategy for hitting the price target toward the end of the year.
USD/CAD
Loonie bolstered to 1.2430 against the greenback, buoyed by speech from Bank of Canada Governor Macklem that “ the cost of living will not rise out of control as the economy reopens from the COVID-19 pandemic”.
AUD/USD
Aussie tumbled to $0.7385, on reports that China told foreign brokerages not to "overinterpret" its latest regulatory action on Thursday, shrugging off upbeat Australia’s Q2 Producer Price Index this morning.
USD/ZAR
Rand vaulted to 14.57 per dollar on rising US Jobless Claims, softer-than-expected GDP and disappointing housing data.
USD/MUR
The domestic pair unchanged at 42.95(selling), unabated by U.S dollar weakness.
12:00 - EUR - German GDP (QoQ)(Q2)
13:00 - EUR - CPI (YoY)(Jul)
16:30 - CAD - GDP (MoM)(May)
EURGBP appears to be riding into a corrective wave A-B-C after completing 5 waves to the downside. Yesterday, we observed an impulsive break out of wave B channel which could lead EURGBP towards final wave C as per Elliott wave analysis. we remain bullish on EURGBP with stop loss below 0.8500 targeting 0.8757 , 0.8826 and ultimately 0.8915.
After rallying towards a high of 156.07 end of May 2021, we saw a three wave corrective move to the downside in GBPJPY which possibly could be the end of a corrective wave A-B-C before a new high is formed or possibly part of a larger corrective combination wave W-X-Y as per Elliott wave perspective.
127% appears to be good level for short term rebound to the upside.
Approaching 149.00/149.10 could be an opportunity to long the market with stop below 148.30 with targets levels 150 , 150.71 and 151.70.
