CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

EUR/USD, GBP/USD and AUD/USD rebound, yet questions remain

EUR/USD, GBP/USD, and AUD/USD rebound, but major resistance means the threat of a bearish period is not over yet.

EUR/USD rallies towards trendline resistance

EUR/USD is on the rise this morning, with the price managing to break through the $1.1808 level to move towards trendline resistance. The consolidation seen over the course of the past three weeks remains in play as the pair trades around a long-term trendline resistance.

As such, we need to see a push through either $1.1916 or $1.1696 to signal a break from this consolidation pattern. Until then, this trendline provides us with a key area of resistance that could spark a short-term pullback within this consolidation zone.

GBP/USD rising from key support level

GBP/USD is on the rise, following a decline back into the $1.3009 support level. That looks to continue the consolidation phase that has been in play over the past fortnight.

A break through the likes of the $1.3186 area would signal a potential bullish continuation coming into play following a strong July. With a long-term descending trendline also coming into play at that top, we are at a crucial point for the pair, where the breakout from this consolidation will provide a significant clue of medium term direction.

AUD/USD rebound from trendline support

AUD/USD has managed to rebound from an inside trendline once again, with the pair rising back into the $0.7189 resistance level.

A rise through that level would provide greater confidence of a bullish continuation for the pair, with the potential for another short-term pullback in play here until that occurs.


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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.

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