The US dollar was able to rake in some gains even though traders were out on a Presidents' Day holiday yesterday.
GBPUSD formed lower highs and found support at the 1.2400 major psychological level recently, creating a descending triangle chart pattern.
The US dollar was mostly stronger on Friday but it gave up ground to the Japanese yen.
USDJPY recently broke above its descending channel visible on the 1-hour time frame, indicating that it's done with its downtrend.
The US dollar was still mostly weaker against its peers but it managed to advance against commodity currencies.
EURAUD has been trending lower and has recently broken below support around the 1.3800-1.3850 area.
The US dollar gave back some of its recent gains when Fed head Yellen sounded less upbeat in her second testimony.
AUDUSd has been trending higher on its short-term time frames, moving inside an ascending channel on its 1-hour chart.
The US dollar got a boost from Fed Chairperson Yellen's testimony, as she confirmed that a rate hike is possible in their upcoming meetings.
AUDUSD bounced off support around the .7615 area once more and is now making its way back to the top of its short-term range visible on the 1-hour time frame.