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 finds support while GBP/USD and USD/JPY edge lower

The euro is strengthening versus the dollar, while sterling is struggling to push higher.

EUR/USD holds above $1.084

EUR/USD seems to have found a floor above $1.084 for the time being, dips to this level and below over the past 24 hours finding buyers. Having retreated from Tuesday’s highs, the price may now be poised to move higher, heading towards $1.092, and then on to $1.097 and then on to $1.114.

A more bearish view would require a drop below $1.084, which would being the lows from earlier in the week into play, around $1.077.

GBP/USD stopped below $1.247

There has been little movement for GBP/USD over the past two weeks, with the pair unable to push on through $1.247.

An alternative view requires a drop below $1.23, which would bring $1.22 into view, and mark a break to the downside from the current trading range.

USD/JPY sees upward momentum stall

Gains here have stalled below ¥109.00 for USD/JPY, and with momentum fading a move back below ¥108.50 might begin to suggest a more bearish view that heads towards ¥107.00.

Above ¥109.50 a more bullish view emerges, targeting ¥110.30 and ¥111.50.


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