While the spats between US and G6 countries made a lot of headlines, they're not much bothered by the market-smart investors who know what are important. The summit between North Korean Leader Kim Jong-un and US president Donald Trump is currently in the spotlight. But it will likely fade into darkness quickly too. There are a number of important events this week. And Sterling is already hit but a batch of weaker than expected data. Euro, on the other hand, is the strongest one as risk of Italian existing Eurozone receded. But there is no clear follow through buy, not even in EUR/GBP, as ECB risks loom. Dollar is also mixed ahead of FOMC rate decision, economic projections and press conference. Technically, 1.3347 in GBP/USD will be a focus in the US session. The pair breached this level but recovered quickly. Firm break of 1.3347 should confirm completion of the corrective rise from 1.3203. And by then, we could see downside accelerate through 1.3203 low.0.8844 in EUR/GBP is another level to watch as firm break there will finally confirm resumption of near term rebound from 0.8620. |