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​​EUR/USD surges to 4-month high, GBP/USD to 1-year high while EUR/JPY slumps

​​EUR/USD surges to 4-month high, GBP/USD to 1-year high while EUR/JPY slumps ahead of Thursday’s ECB meeting.

Euro Source: Adobe images
City Motion Forex United States dollar Japanese yen EUR/USD Euro
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/USD trades in 4-month highs

EUR/USD's rise above the June peak at $1.0916 has the $1.10 region in its sights ahead of Thursday’s European Central Bank (ECB) meeting.

​Support can now be found around the June peak at $1.0916 and further down at the 8 July high at $1.0842.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

GBP/USD trades in 1-year highs

GBP/USD has overcome $1.30 and so far trades in 1-year highs at $1.3045. Further up beckons the 18 July 2023 peak at $1.3126.

​Minor support is seen at the $1.2996 27 July 2023 high and further minor support at the $1.2894 8 March high.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

​EUR/JPY drops

EUR/JPY slips further from its ¥175.42 multi-decade high and so far dropped to the ¥170.00 mark which offers at least short-term support. 

Minor resistance can now be seen at the 12 July low at ¥171.47, ahead of the 16 July high at ¥172.92.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

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