The British sterling continued its gains today after the release of CPI data which showed the sharpest rise since 13 years ago, reflecting the improvement in the economy. On the other hand, the U.S., dollar rebounded from today's earlier losses as a correction to the downside fall after the jobs report on January 8. In addition, the upbeat U.S. net capital inflows enhanced demand on the green currency, lifting the dollar index to a high of 76.22 from the day's low of 76.93.
With regard to the euro-dollar pair, it declined on the daily charts after the grim German investor's confidence survey which slipped for the fourth month. The pair may continue its upside trend that started in December if it breached 1.4213 level. Meanwhile, the pair is traded at 1.4294 after reaching a high of 1.4413 and a low of 1.4258, where the coming support is seen at 1.4260 and next resistance is at 1.4300 then 1.4325.
As for the sterling-dollar pair, it is showing an incline on the daily and 4-hour charts, but the pair halted its rally when it hit 1.4630 level. The pair retreated after reaching a high of 1.6456 to 1.6380, while the day's low was at 1.6309. However, on the daily charts, the pair may reverse from an overbought area as indicated by the Stochastic Oscillator momentum indicator. The coming support for the pair is seen at 1.6355 and the resistance is spotted at 1.6410.
Relative to the dollar-yen pair, it retraced its earlier losses when it declined to a low of 90.30 where the pair could not go further beyond 90.35 level which represents 38.2% Fibonacci retracement to the upside trend that started at the beginning of December. Now, the pair is traded at 91.04 after hitting a high of 91.12, while it is currently facing the coming support level at 90.40, while the resistance is spotted at 92.20 then 91.85.