A quick look at the key technicals for some of the pairs

GBPUSD rebounds. USDJPY tests support. EURUSD holds above MAs

GBPUSD. The GBPUSD was smashed in trading today. The pair fell 210 pips from the high with little in the way of a correction. The last few hours has seen more buyers coming in. The pair has retraced into the 38.2-50% of the last leg down at the 1.4165-77 area and above an old trend line (see prior post).

USDJPY . The USDJPY has come down to the 100 hour MA and trend line support and held the line so far.

EURUSD. The EURUSD opened the NY session below the trend line and 200 hour MA (and 100 hour MA). The price moved above and the tide turned more bullish. Now a move above 1.0909 is eyed.

USDCAD. The USDCAD remains below the close from yesterday at the 1.4554 level. The support (intraday) remains at 1.4485-88. Traders looking for a break.