FX levels to watch: EUR/USD, GBP/USD and USD/JPY

The US dollar’s revival is hitting EUR/USD and GBP/USD hard, with the latter under pressure as the Brexit process goes on.

EUR/USD back down as dollar recovers

The sellers have reasserted their control over the last few days, with the EUR/USD's rally towards $1.15 providing a selling opportunity.

Below $1.13 the price heads towards to the $1.1215 lows of earlier in the month. In the short term, the price may bounce, but any move back towards $1.1376 is still another likely selling opportunity.

GBP/USD slumps as Brexit worries weigh

Expectations of a frosty reception in Parliament for the UK’s Withdrawal Agreement have driven more downside in GBP/USD, and the price is now heading towards the lows of late October at $1.2680, and then the August low at $1.2661.

Rallies of late have run into heavy selling pressure, so a bullish development requires a close above $1.29.

USD/JPY rally revives

The dollar continues to find its feet, with a sustained pickup in USD/JPY over the past week.

Gains yesterday stalled at ¥113.64, but above here the ¥114.00 area comes into view, followed by the peak from October at ¥114.50. Dips towards ¥113.00 would still be potential buying opportunities.

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