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The US dollar lost a lot of ground to its forex peers in the New York trading session as risk appetite seemed to improve.
GBPUSD was previously consolidating inside a symmetrical triangle pattern on its 1-hour time frame before price decided to go for an upside breakout.
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The US dollar managed to score gains against the comdolls on weaker oil prices and rate cut expectations.
EURJPY has been trending lower on its 1-hour time frame, moving inside a descending channel formation.
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The US dollar gave up a lot of ground on Friday when its Q2 advanced GDP reading came in far below expectations.
GBPJPY has been trending lower on its 1-hour time frame, moving inside a descending channel.
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The US dollar regained ground against its forex peers as risk aversion returned to the financial markets.
GBPUSD has been forming higher lows and lower highs, creating a symmetrical triangle pattern on its 1-hour time frame.
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The US dollar had a volatile run during the actual FOMC statement as it initially rallied on an upbeat announcement but returned its recent gains and more when risk appetite picked up.
GBPJPY recently broke below support at the 139.00 major psychological level then dipped to the 136.00 area before pulling up.