GBP/USD rallies post UK budget while EUR/JPY, USD/JPY top out
GBP/USD rallies post UK budget while EUR/JPY, USD/JPY top out amid rate hike expectations which have risen to 45% for a March hike.
GBP/USD remains bid post UK budget
GBP/USD has risen to a one-month high and is getting ever closer to the $1.2772 to $1.2786 resistance area which may short-term cap, though. If not, the $1.2794 mid-December high would be in sight.
Minor support is seen along the breached downtrend line, because of inverse polarity now a support line, at $1.2722 and also at the 22 February $1.271 high.
EUR/JPY has been rejected by key resistance and falls
EUR/JPY is seen rapidly coming off its late-November and February highs at ¥163.71 to ¥163.72 and is rapidly falling towards the 15 February low at ¥160.92.
If fallen through, a top formation will be confirmed.
USD/JPY is topping out
USD/JPY is now clearly topping out and is fast approaching its 7 February low at ¥147.63.
Below the above beckons the 55-day simple moving average (SMA) at ¥147.27.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
