CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

EUR/USD, GBP/USD and USD/JPY edge higher

Small gains have been seen in early trading for EUR/USD and USD/JPY, while GBP/USD struggles to make headway.

EUR/USD targets $1.18

Dollar weakness continues to carry EUR/USD higher, rebounding over the previous four sessions.

However, the overall negative trend remains firmly in place, given the run of lower highs of late. A move back above the 50-day simple moving average (SMA) at $1.1817 would ease some of the bearish view, and shift the outlook to a more neutral one for the time being.

GBP/USD rally slows

The rebound with GBP/USD has stalled after several days of gains, suggesting a potential continuation of the run of losses seen since the end of July.

A move back above $1.38 would start to provide a more positive view, but sellers will be looking for a new move back to, and then below, $1.36.

USD/JPY edges higher for a fresh session

The recovery of USD/JPY puts the pair on course to test ¥110.50 once more, if the price can hold above ¥110.00, which has acted as resistance over the past week.

Since the beginning of the month the price has carved out higher lows, helping to provide a more bullish view in the short term.


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