In recent days, the USD Index has been trading around the level of 95, which resulted in the consolidation in GBP/USD. Will the proximity to important resistance levels encourage currency bears to act in the coming days?

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Earlier today, the USD Index extended losses and hit a fresh Oct low of 94.67 as the minutes of the Federal Reserve's latest meeting continued to weigh on investors' sentiment. Thanks to these circumstances, EUR/USD extended gains and reached the key resistance zone. What’s next?

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Although the Department of Labor showed a larger-than-expected drop in jobless claims in the week ending October 3, yesterday’s minutes from the U.S. Federal Reserve's Sept meeting weakened the greenback, pushing the USD Index to its lowest level since Sept 21. Earlier today, the U.S. currency extended losses and dropped under the level of 95. What impact did this decrease have on the short-term picture of our currency pairs?

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Earlier today, the Department of Labor reported that the number of initial jobless claims in the week ending October 3 declined by 13,000, beating analysts’ expectations for a 2,000 drop. As a result, the USD Index came back above 95.50, which pushed EUR/USD sharply lower. Thanks to this move, the exchange rate invalidated earlier breakout. Will we see further deterioration in the coming days?

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Earlier today, official data showed that U.K. industrial production rose 1.0% from a month earlier, beating forecasts for a 0.3% gain. Additionally, industrial output rose 1.9% from a year earlier, while manufacturing production was up 0.5% from a month earlier. Thanks to these bullish numbers, GBP/USD moved sharply higher and climbed above 1.5300. How high could the pair go in the coming days?

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