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.

FX levels to watch: EUR/USD and GBP/USD

Euro and sterling attempt a recovery after sell-off.

EUR/USD seeks to recover from sell-off

EUR/USD defended the $1.13 level yesterday, as it did throughout December. This could set us up for another rally towards resistance at $1.148, where gains have stalled over the past two weeks.

The intraday bounce has carried the price to $1.138, and if the selling resumes then all eyes are on $1.13. If this breaks, then the November low at $1.1215 comes into view.

GBP/USD holds support

GBP/USD's sudden drop yesterday bounced and found support around the lows seen in early December at $1.2476.

However, the price needs to recover $1.26 to provide a more bullish view. Any rally that fails to recover this level is another selling opportunity.


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