EUR/USD rises while GBP/USD and USD/JPY stuck below resistance

EUR/USD is still pushing higher, while both GBP/USD and USD/JPY have run into resistance.

EUR/USD continues to see gains

The uptrend goes on here, with the EUR/USD price holding above the 50-hour simple moving average (SMA) throughout Wednesday’s session.

It is making a new higher high at $1.095 in the early part of Thursday’s session, while a dip towards $1.085 would provide another higher low. A drop below $1.075 would likely negate the bullish view.

GBP/USD still held below $1.20

The GBP/USD pair has pushed higher from last week’s lows, but a firm push above $1.20 continues to elude it.

Yesterday’s sharp drop found buyers, but momentum has drained away below $1.20. A reversal below $1.16 would provide a more bearish view.

USD/JPY stuck below ¥111.50

For USD/JPY, repeated attempts to push above ¥111.50 have met with failure, and the price is set to test support around ¥110.20.

Below this, ¥109.60 may then come into play. Further upside requires a move above ¥111.50.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.