In today’s forex forecast, we offer the outlook for GBP/USD, EUR/USD and USD/JPY with Steven Woodcock, Senior FX Analyst at Plutus FX.
Key Points:
GBP was sold across the board after the UK data today, but remains range bound now. Falling below 1.40 will see another downleg.
EUR/USD likely to see 1.18 levels, but moving towards 1.10 area will negate this view.
USD/JPY likely to see consolidation ahead before buyers pour in. Longer-term view remains bullis.
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