Pairs consolidate after a weak pound

Currently throughout the US session the major pairs along with the dollar and the yen are consolidating so far mainly on pure technical and correctional after the pound fell toward the weakest in 10 months versus the dollar after a report showed U.K. inflation slowed to match the lowest level in five years.

Now the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.2966 while recording the highest level of $1.2995 and lowest level of $1.2922, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators.

As for the British Pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.6268 while recording the highest level of $1.6312 and lowest of $1.6162 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.

Finally, as a result of mixed signs and a weak dollar witnessed throughout the momentum indicators at different time charts the USD/JPY pair is falling slightly to trade around ¥107.14 while recording the highest level of ¥107.33 and lowest levels of ¥106.81.