Fears over the situation and Syria and the potential attack continue to trigger the risk-off sentiment on the market. Pending Home Sales data from the United States on tap.

EURUSD rose yesterday and closed at 1.3392. The German Ifo Business Climate rose to 107.5 in August. In a release today the M3 Money Supply year over year came out at 2.2 percent in July. On the other side of the ocean the CB Consumer Confidence in the United States rose to a reading of 81.5 in August. The ongoing tensions between the United States and Syria keep shaking the market triggering the risk-off sentiment which limited the gains of the pair yesterday. In the session ahead investors are awaiting the Pending Home Sales data due from the United States later today. Support for the EURUSD is seen at 1.3326 and resistance is seen at 1.3407. The HotForex Traders Board shows that 70 percent of the traders short on the EURUSD.

GBPUSD

The Cable dropped yesterday and closed at 1.5545. The US dollar strengthened against the Sterling after the US Defense Secretary, Chuck Hagel highlighted the possibility of the US army to launch a strikes against Syria if President Barack Obama chooses to order an attack. Trading trends on the pair today are expected to be determined by the speech of the Governor of Bank of England Mark Carney and the Pending Home Sales data due from the United States. Support for the GBPUSD is seen at 1.5490 and resistance is seen at 1.5596. The HotForex Traders Board shows that 54 percent of the traders are long on the GBPUSD.

Fears over the situation and Syria and the potential attack continue to trigger the risk-off sentiment on the market. Pending Home Sales data from the United States on tap.