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 falters as GBP/USD and USD/JPY move higher

EUR/USD is still struggling while the pound is making headway against the dollar and the greenback gains versus the yen.

EUR/USD under pressure again

A small bounce seemed to offer hope of a recovery with EUR/USD, but the pair is under pressure once again, and the loss of $1.16 could signal that a new move lower is underway.

This would suggest a renewed drop that now targets $1.14, last seen in July last year. A lower high with stochastics at such a low ebb points towards strong downside momentum, leaving buyers unable to hold their ground.

GBP/USD buyers still in control

The powerful rebound seems set to continue here with GBP/USD, despite some hesitancy in early trading today.

The buyers appear to be firmly in charge, and now the pair targets $1.366 and then $1.37, but a test of trendline resistance at $1.36 is the first challenge. If this can be broken then we look for additional upside, while sellers will aim for a reversal that brings last week’s lows towards $1.34 back into play.

USD/JPY edges back after gains

After pulling back to support the price of USD/JPY has stabilised, and now looks for a resumption of the move higher, returning to ¥112.00.

A continued hold above ¥111.00 leaves the buyers firmly in charge, while sellers will aim for a move back below this and then below ¥110.50.


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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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