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 and GBP/USD move higher while USD/JPY keeps climbing

A return to QE in the eurozone has not managed to push EUR/USD lower, while Brexit news has driven GBP/USD higher.

EUR/USD rallies in early trading

Despite the return to quantitative easing (QE) by the European Central Bank (ECB), EUR/USD has rallied, pushing through the $1.106 zone that acted as resistance earlier in the week.

There is still much work to be done to reverse the ongoing downtrend, and even a push towards $1.115 might still provide a strong selling opportunity. A reversal below $1.105 would also signal that the post-ECB strength has run its course.

GBP/USD rallying on Brexit news

GBP/USD continues to push higher, breaking above resistance this morning in decisive fashion.

A close above $1.237 would signal that a move toward $1.25 is underway, while a reversal below $1.225 would be the cue for a bearish turn.

USD/JPY continues to climb

USD/JPY continues to defy expectations, continuing its uptrend.

So far there is no sign of the sustained reversal needed to indicate that a near-term top is in. Further gains head towards ¥109, where gains in July stalled.


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