FX levels to watch – EUR/USD, GBP/USD, USD/JPY

The euro is little changed against the dollar this morning, but the pound looks weak as the BoE decision looms. 

EUR/USD still holding above $1.15

Dips below $1.1554 continue to be bought, raising the prospect of a rally for EUR/USD back towards trendline resistance around $1.17.

Above this, the $1.1860 area could continue to act as resistance.

GBP/USD plumbs to new lows for 2018

Ahead of the Bank of England (BoE) meeting later today, GBP/USD has hit a new low for the year.

Wednesday’s session saw the price unable to break back above resistance at $1.32. The next area of support is $1.3039, the lows from October.

USD/JPY in need of a boost

USD/JPY has recovered from the lows earlier in the week, but it now has to move above the ¥110.48 area that marked the high last week.

Above here, ¥110.84 comes into view, while rising trendline support comes into play around ¥109.60. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.