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The Federal Reserve interest rate decision may undermine the recent rebound in GBP/USD if the central bank steps up its effort to combat inflation. The daily price broke symmetric triangle pattern to above for the bear market rally to be started with 1.20 resistance level to be crossed for the rally to be continuing.

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A strong close last week sets up AUD/USD for the upcoming data heavy week with focus on the Fed.
The daily price is breaking the bullish triangle pattern to above for the secondary bear market rally to be continuing with the possible daily bullish reversal.

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The European Central Bank raised its interest rates for the first time in over a decade on Thursday, by a bigger-than-expected 50 basis points, and unveiled an anti-fragmentation tool called the Transmission Protection Instrument, or TPI.

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Overall consumer prices in Japan were up 2.4 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday.

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The Bank of Japan kept its ultra-loose monetary policy stance unchanged and raised its inflation outlook on Thursday.

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