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 and GBP/USD recoveries falter

The euro and sterling are moving lower again against the dollar after an overnight bounce, but USD/JPY is edging higher.

EUR/USD heads lower

Yesterday’s sharp drop has carried EUR/USD back towards the recent support zone just above $1.17.

A small overnight bounce has hit resistance at $1.177, and further losses now target a move below $1.17 to break through this zone of support. A more bullish view requires a move back above $1.18 that then targets $1.187.

GBP/USD rebound falters

In common with other risk markets, the GBP/USD has attempted to rally overnight but has then fallen back towards yesterday’s lows.

For cable this area around $1.277 would mark a key level, as a move below here opens the way to move downside, towards $1.263 and down to $1.259.

USD/JPY stages recovery

USD/JPY moved higher from yesterday afternoon, and unlike other assets has not reversed lower so far this morning.

If the price moves back above ¥104.90 then a more guardedly bullish view begins to emerge. A fresh move lower targets ¥104.00 and the lows from Monday’s session.


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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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