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

FX levels to watch - EUR/USD, GBP/USD, USD/JPY

FX markets continue their recovery from last week’s risk-off moment, as EUR/USD, GBP/USD and USD/JPY all move higher.

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EUR/USD recovers in early trade

Overnight weakness for EUR/USD seems to have given buyers another opportunity, but they will need to push the price above $1.16 to clear the way to further upside.

Above here, $1.18 comes into view. A close below $1.15 is needed to suggest a bearish turn.

GBP/USD still on the up

Despite the mixed signals on Brexit, GBP/USD has rallied once again.

Fresh gains target $1.3250, and then on to the September high at $1.33. The bullish view remains unless we see a close below $1.31.

USD/JPY follows the rules

USD/JPY could be executing a classic bounce off a rising trendline, finding support around ¥111.60, where the trendline from the March lows comes into play.

We have yet to see a new higher high intraday however, so a move above ¥112.50 is needed to suggest bullish momentum has the upper hand. Despite this, risk-reward may now favour the bulls, with a view to seeing the current rising trend continue.

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