The pound declined against the green currency in today's Asian session ahead of the BOE rate decision that will be released later today. On the other hand, the dollar gained slightly against the Japanese yen after yesterday's decline since the FOMC minutes yesterday said unemployment in the U.S remains a major concern.
The euro dollar pair fell slightly to record a low of 1.4384 and a high of 1.4446, having the 16 nation's currency trading around 1.4395. The pair is having a support at 1.4340 along with a resistance at 1.4435, and the four hour momentum indicators are suggesting more declines today, so the pair might breach the support and target the 1.4270 levels. Fundamentals concerning retail sales and consumer confidence in the euro area will be released today that will affect the pair's trades.
As for the pound dollar pair, it declined to record a low of 1.5973 and a high of 1.6058, having the royal currency trading around 1.5975. The pair rose yesterday after reaching the 1.5935 levels where it found a strong support, and today it is having a support at 1.5900 along with a resistance at 1.6020. If the pair breached the support, it may fall back to the 1.5835 levels, and the daily stochastic oscillator is supporting the downside.
Finally, the dollar gained slightly against the Japanese yen to record a high of 92.45 and a low of 92.10, and the pair is currently trading around 92.20. Today's support could be found at 91.80, while the resistance could be found at 92.50. Initial jobless claims in the U.S is on queue today, and it may move the market on release. Yet, the four hour stochastic oscillator is supporting the downside.