FX levels to watch: EUR/USD, GBP/USD and USD/JPY
Brexit news has lifted GBP/USD, while USD/JPY continues its steady push higher and EUR/USD bounces from channel support.
EUR/USD rallies off channel lows
EUR/USD continues to trade in a downward channel, with a rebound off the lower bound in evidence over the past few days.
Further gains will head towards $1.135, and the upper bound of the channel.
GBP/USD surges off trendline support
Last night’s deal in Brussels gave GBP/USD the strength to rally off rising trendline support, creating another higher low.
Further gains target the $1.335 high from 27 February, and a move above this creates a new higher high. An overnight pullback towards $1.32 has found buyers, which may see fresh gains above $1.325.
USD/JPY still in uptrend
USD/JPY continues to adhere to the rising trend from January, with dips to ¥111.00 over the past few days finding support. Fresh gains target ¥112.12, the highs from last week.
A move below ¥110.80 would provoke a more bearish view, bringing ¥110.40 into view as possible support.
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
