CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

EUR/USD, GBP/USD and AUD/USD retracements bring potential long opportunity

EUR/USD, GBP/USD, and AUD/USD decline into deep retracement, with wider uptrend highlighting likely impending rebound.

EUR/USD attempting to regain ground after recent declines

EUR/USD has been attempting to form a bottom over recent trading days, with the decline seen in the first few days of September looking like a retracement phase before we head higher once again.

Given the uptrend in play, we would need to see a breakdown below the $1.1754 support level to negate that bullish outlook. However, with the pair still struggling to break from this short-term consolidation phase, a rise through the $1.1865 level would bring about a more reliable bullish signal.

GBP/USD declines likely to bring further upside

GBP/USD has been on the slide over the past week, with the pair dropping into a deep retracement of the late-August rally.

With the price having moved back down within striking distance of the 76.4% Fibonacci level, there is a good chance we will soon see the pair turn higher once again to continue the wider uptrend. As such, a bullish outlook is in play unless we see a break back below the $1.3053 level.

AUD/USD pauses after Friday's spike

AUD/USD looks to be showing signs of a more bullish phase coming into play, with Friday finally seeing some buying pressure after a week of declines.

The wider trend of higher lows does signal how this current pullback is likely to be a retracement of the rally from $0.7136. With that in mind, this current pullback is likely to be a precursor to another bullish move, where a break below that $0.7136 level would signal an end to this bullish wider trend.

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

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

See more forex live prices


See more shares live prices


See more indices live prices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.