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 gains stall, as GBP/USD and AUD/USD push higher

While the euro has run into resistance against the dollar, GBP/USD and AUD/USD have found renewed strength.

EUR/USD struggles after Wednesday retreat

The bounce of EUR/USD has faltered, with the price dropping back from Wednesday’s highs above $1.196.

This raises the prospect of a renewed move back towards $1.185, where the sell-off stopped last week. Buyers will need to get the price back above $1.195 to preserve a more bullish view in the short term.

GBP/USD targeting $1.40 ahead of BoE meeting

GBP/USD has managed to hold on to almost all the gains of the week so far, and crucially appears to be carving out a higher low intraday as well.

A renewed move above $1.40 solidifies the bullish view and brings $1.42 into view. Sellers will hope that the price can drop back below $1.39 in order to open the path to $1.38 and the low from last Friday.

AUD/USD still climbing

AUD/USD looks strong still, with the price marching higher over the previous three sessions.

A series of intraday higher highs and higher lows continues to point towards a bullish outlook, with $0.765 as the first target as it claws back lost ground from the middle of the month.

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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