U.S. Dollar Pulls Back As Traders Ignore Strong GDP Data: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

EUR/USD rebounds as traders take some profits off the table after the strong pullback. Traders also focus on the GfK Consumer Confidence report from Germany. The report indicated that Consumer Confidence improved from -29.7 in June to -29.2 in July, compared to analyst consensus of -27.6.

Currently, EUR/USD is trying to settle back above the support at 1.1350 – 1.1365. In case this attempt is successful, EUR/USD will move towards the nearest resistance level, which is located in the 1.1420 – 1.1435 range.

GBP/USD Moves Higher Amid Falling Treasury Yields