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.
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