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EUR/USD edges higher but GBP/USD and AUD/USD under pressure

A bout of risk-off moves has put pressure on the pound and the Aussie, but EUR/USD is trying to hold firm.

EUR/USD attempts to move up

EUR/USD appears to have stabilised around $1.12 for now, but given the risk-off views across markets this respite may well be limited.

A rebound towards $1.14 would likely bring out the sellers once again, with a much bigger rally back to $1.15 needed to provide some evidence of a more bullish view emerging.

GBP/USD under pressure near $1.32

GBP/USD has hovered near a new lower low, as it breaks out of the descending channel that has been in place since July.

$1.3204, $1.3109 and then $1.3039 become the levels to watch on the downside, if selling gathers pace. A short-term rebound comes within the wider downtrend but could run back towards $1.347 and $1.3515.

AUD/USD slumps to lower low

The risk-off turn has amplified the move to the downside here with AUD/USD, and now the August low at $0.71 is under threat.

After a huge slump from the October peak the price seems content to keep moving lower, which could bring the $0.70 level itself into view.

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