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 USD/JPY gain ground after recent pullback

EUR/USD and GBP/USD start to regain ground, but the dollar could come into strength for USD/JPY.

EUR/USD on the rise after 61.8% retracement

EUR/USD is regaining ground following a decline into the 61.8% Fibonacci retracement level on Thursday.

The ongoing uptrend remains intact, and that reaction to the Fibonacci level brings greater confidence that we remain on track to push higher once again. With that in mind, it makes sense to look for long positions unless the price falls back below $1.1986 support.

GBP/USD regaining ground after finding support on $1.40 handle

GBP/USD has been regaining ground since finding support on the $1.40 handle on Thursday, with the uptrend looking to continue apace.

While the price appears to be struggling to maintain traction, a deeper pullback could provide us with a 61.8% to 76.4% retracement of the rally from $1.3801. Whether we see that deeper retracement or not, this recent phase of weakness is viewed a bullish retracement unless the price falls back below the $1.3801 level.

USD/JPY could break higher once again after falling into trendline support

USD/JPY has been on the slide since Thursday’s peak, with the pair falling back into a confluence of trendline and the 200-day simple moving average (SMA) support.

​The brief move through ¥109.69 resistance highlights the potential for further upside, with the prices expected to rise from this confluence of support. With that in mind, there is a good chance we could see the pair come back into strength from here, with a break back below ¥108.33 required to bring a more bearish phase back into play.

This information has been prepared by IG, a trading name of IG 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.
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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