Financial markets usually have a break when the US celebrates its national holidays. The fact is that US banks and investment funds manage the largest capital turnover in financial markets. That is why today, the market got stuck.
It is quite possible that the situation will be the same even tomorrow as it will be a shortened trading day in the US. Thus, the market activity is expected to be low. Today, the ECB will disclose its monetary policy meeting minutes. However, it will hardly influence the market. The document is unlikely to have new information. Moreover, even unexpected news will be priced in only tomorrow.
The euro/dollar pair once again approached the level of 1.1930 that acts as resistance. This time, the inertial movement encouraged buyers. However, there is still a mid-term sideways channel. Its upper limit is moving between the levels of 1.1950 and 1.2000. That is why buyers may soon close their positions.
At the same time, the pound/dollar pair met the resistance level of 1.3400. After that, it stopped.
Market participants are still focused on the levels of 1.3300 and 1.3400. Trading strategies could be based on a rebound or a break of these levels. However, the second strategy is more profitable and poses lower risks.
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