Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD and AUD/USD start to turn upwards after Friday declines

EUR/USD, GBP/USD and AUD/USD show signs of a bullish resurgence despite a bout of losses at the end of last week.

Video poster image

​EUR/USD falls back towards Fibonacci support

EUR/USD has been attempting to find a more positive footing after a period of declines that took us back towards the August lows of $1.1663.

The recent downtrend point towards the potential for further weakness, although the recent respect of this 76.4% Fibonacci support level and Thursday’s rally towards the prior swing-high of $1.1755 provide some basis for tentative bullish confidence.

A rise up through that $1.1755 level would bring greater optimism for bulls. To the downside, the $1.1663 level provides a key hurdle to overcome if we are to see a continuation of this recent sell-off.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD starts to regain its footing after Friday sell-off

GBP/USD ended the week on a negative footing, with the pair reversing much of the upside seen over the course of Thursday’s session. That decline has taken us back into the deep retracement zone between the 61.8% and 76.4% Fibonacci levels.

We are now starting to build upward momentum once again here, with the price turning upwards in early trade this morning. Given the recent sell-off took us back into the $1.3602 support level, there is a good chance we see another move higher from here.

However, much like EUR/USD, we would see greater confidence of upside once the price breaks through the prior swing-high ($1.375) given recent declines.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD starts to show signs of bottoming out

AUD/USD shows a more obvious bottoming out pattern, with the recent break from its descending channel giving way to flatlining lows and higher highs.

The latest retracement took us back into the 76.4% Fibonacci level, with the price turning upwards at the end of last week. A break below $0.722 would bring a more bearish picture into play. Until then, there is a good chance we are setting up for another bullish push for the pair.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Find out more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.