EUR/USD surges in early trade
Renewed euro strength early on this morning suggests we may see another attempt by EUR/USD to break the $1.1660 area that stifled upward progress last week.
If this is broken then the August high at $1.1740 comes into view. The cautiously bullish view would be negated by a move back below $1.15.
EUR/USD price chart
GBP/USD pushed higher by Brexit optimism
GBP/USD has finally managed to break above the downtrend line from the May highs.
If the price succeeds in closing above $1.3040 then the breakout will target the $1.3205 area. A move back below $1.30 reignites the bearish move and suggests a move back to $1.2773.
GBP/USD price chart
USD/JPY rallies sharply
More dollar strength is in evidence for USD/JPY, but a close above ¥112.00 is still needed to suggest a real breakout has occurred.
This would then target ¥113.00 and higher. A bearish view requires a move back below ¥110.40.
USD/JPY price chart