GBP/USD surge goes on, while EUR/USD and USD/JPY push higher

The surge in GBP/USD carries on, with the pair hitting its highest level since early May. Meanwhile, USD/JPY continues to recover, and EUR/USD is making another attempt to clear $1.11.

EUR/USD steadies above $1.107

An attempted push through $1.11 yesterday was rudely rebuffed, although the EUR/USD price has begun to push higher this morning.

A close above $1.11 is still needed to open the way to further gains, targeting $1.1161, the 200-day simple moving average (SMA) and the highs from the second half of October. So far dips towards $1.107 have found support, which would reinforce a more bullish view.

GBP/USD hits seven-month high

The GBP/USD surge continues, with cable heading towards the May peak of $1.317.

A Moving Average Convergence Divergence (MACD) crossover on the daily chart reinforces the bullish view, and will mean that further intraday dips continue to be buying opportunities. $1.32 and $1.335 are the next targets to watch on the upside.

USD/JPY pushes higher

After the notable slump at the beginning of the week, USD/JPY has begun to make a recovery.

The price once again found support at the rising 50-day SMA (¥108.50), and further gains target Monday’s high at ¥109.20 and then on to ¥109.70. Above this, the price will have created a new higher high, reinforcing the bullish view.

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