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Charting FX: dollar regains its crown

After the strong movement we had in the last couple of days, the dollar index is somewhat stalling but remains above the downtrend resistance level. 

CFDs are a leveraged product and can result in losses that exceed deposits. Trading CFDs may not be suitable for everyone, so please ensure you fully understand the risks and take care to manage your exposure.

A main focus is on cable, with the pound losing ground for a third day without any macroeconomic data to support it. However, the GBP/USD long-term chart shows that previous dips have been seriously bought, sending the pound higher each time. There is also a steady trend in EUR/USD, but today’s drop could be the sign a loss of confidence in the single currency.

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Live US Dollar Basket | GBP/USD | EUR/USD prices

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.