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. 

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