The New York trading session yesterday was a positive one for stocks -  what stimulated the Forex market to react with the selling of safe haven currencies once more.

Now markets are preparing for the results of the G7 meeting in Rome scheduled this weekend.

It is very likely that many traders are currently choosing to unwind their positions ahead of this weekend and before the G7 helping to  reduce the demand for safe haven currencies on Friday.

EURUSD - yesterday was testing its lower support area at 1.2750. However, this morning is trading firmly back above 1.29.
The pair is trading in a range for the last two and a half weeks with no success of breaking above 1.3070 and below 1.273.

GBPUSD - failed to break clearly under its first support area 1.4150 yesterday, quickly turned to trade higher with some remarkable buying pressure. This morning the Pound  has already penetrated 1.45 and higher against the dollar. The next resistance area for the pair is projected around 1.47.

Z.Georgi

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