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 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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