Posted: 18 Mar 2011 06:20 AM PDT

Here is majors update for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2011/03/18/03/

GBP/USD technical view

Posted: 18 Mar 2011 04:58 AM PDT

Here is the technical perspective for the cross:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/18/

Starting Friday

Posted: 18 Mar 2011 04:57 AM PDT

Hi everyone and welcome back! G7 surprise (or maybe not, but at least surprise me) by changing their all time lack of commitment, expressing their support to BOJ intervention, stating that authorities should stay away from markets, “except in case of emergency”; yen lose big against major rivals, sending Euro to fresh yearly highs against greenback above 1.4130.

Still seems those are already old news; I’m reading a local newspaper announcing France has stated that the attacks against Libyaauthorized by the UN, will start “in a few hours” with Canada, Denmark and Norway among the countries that will second the military operation. Germany is still reluctant, and states that this resolution is considerably risky.

Market has not needed too much lately either to change intraday directions or jump among wild ranges. Keep an eye on news, and in stocks.

We have no fundamental data schedule for the rest of the day, so will start now with the technical perspectives.

Have a great trading day!