GBP/USD Sees Worst August Performance, USD/JPY Support Under Scrutiny
The GBP/USD pair has historically seen its worst monthly performance in August, with average returns of around -0.5% since 1971.
For USD/JPY, the key question this month will be how serious Japan and the US are about providing ongoing support to the yen, rather than long-term seasonal tendencies.
A bearish move in AUD/USD could create an 8-month head-and-shoulders topping pattern on the pair with a neckline in the 0.6850 zone.