GBPUSD drifts lower
The dollar kept up its dominance over the pound as prices sank to a fresh low. Cable came under more pressure after firmly breaking through the 1.3500 level, and the drift south has since led more buyers to take profit. 1.3400 is a critical level to see if the bulls manage to find some support and change things around. Otherwise, Sterling could see a deeper correction towards the lower regions of 1.3300.
CADJPY fighting back
The Canadian dollar is clawing back losses as price action looks set to cement a 100-pip jump. On the chart, the pair is aiming for the 114.00 level but will need a clear break above 113.70, the next resistance. Sentiment would remain upbeat if the pair stays above the said zone, as this would ease the downward pressure. Any signs of exhaustion would see another test at 113.00, before a potential break lower towards 112.60.
NAS 100 hitting support
GBPUSD
The Nasdaq hits support as investors digest US labour data on Friday. The index is striving to hold onto its gains to hit another peak. A retreat below 25500 has forced some leveraged long positions out, denting the all-out bullish mood in the short-term. The support area of 25000 could see some renewed buying interests, but bulls will need to clear 25800 before they can push higher. Otherwise, a downwards continuation would send the price to the 24600 range.
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