Despite gains for some risk assets overnight, it looks like investors are still not quite ready to move out of safe havens.

Pound and dollar
Source: Bloomberg

GBP/USD eyes $1.43

A bounce in cable had been in the offing for a while, given that the pair has been oversold for the entirety of January.

The pair needs to push firmly through $1.43 to indicate that more is to come, in which case $1.4390 comes into play, followed on by $1.4435.

A break below $1.4240 would suggest that we are heading down towards $1.4140.

EUR/USD could drop to $1.0810

Momentum to the upside has stalled below $1.0950, and so a move down towards $1.0810 for EUR/USD now seems likely.

A break of this support area would open the way down to the January lows of $1.0712. Any bounce needs to clear $1.0950. 

AUD/USD could see $0.6994

Bullish momentum has lifted the Aussie off its lows around $0.6850, but so far the peak from early Monday around $0.6910 is holding back further progress.

If the pair does push higher then $0.6950 comes into view, with $0.6994 beyond this.

A downside break of the lows from last week heads towards $0.6806 and then $0.6762.

USD/JPY could see further gains

USD/JPY is pushing on towards the highs of last week around ¥118, with bullish momentum still in evidence on the daily chart.

A break above here would head towards ¥119. ¥117 remains as support, but a break down below here would head towards ¥116.55, but so long as the pair holds above ¥116 then further gains look likely. 

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