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.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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
Prices above are subject to our website terms and agreements. Prices are indicative only
