EUR/USD finds support while GBP/USD and USD/JPY edge lower
The euro is strengthening versus the dollar, while sterling is struggling to push higher.
EUR/USD holds above $1.084
EUR/USD seems to have found a floor above $1.084 for the time being, dips to this level and below over the past 24 hours finding buyers. Having retreated from Tuesday’s highs, the price may now be poised to move higher, heading towards $1.092, and then on to $1.097 and then on to $1.114.
A more bearish view would require a drop below $1.084, which would being the lows from earlier in the week into play, around $1.077.
GBP/USD stopped below $1.247
There has been little movement for GBP/USD over the past two weeks, with the pair unable to push on through $1.247.
An alternative view requires a drop below $1.23, which would bring $1.22 into view, and mark a break to the downside from the current trading range.
USD/JPY sees upward momentum stall
Gains here have stalled below ¥109.00 for USD/JPY, and with momentum fading a move back below ¥108.50 might begin to suggest a more bearish view that heads towards ¥107.00.
Above ¥109.50 a more bullish view emerges, targeting ¥110.30 and ¥111.50.
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