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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

Renewed dollar strength has seen EUR/USD and GBP/USD reverse their moves higher.

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EUR/USD heads back towards recent low  

Last week’s low at $1.1510 continues to hold for now, but at present there doesn’t seem to be much buying pressure to lift EUR/USD.

Any rally that fails to break back above $1.1822 remains a selling opportunity.

GBP/USD gives back recent gains

The rally last week has faltered, with the $1.32 level now coming into play for GBP/USD.

A break below this would suggest a move towards $1.3039, the lows of September and October 2017. Any rally that moves back towards $1.3450 but fails to break this is likely to see fresh selling pressure.

USD/JPY climb continues

Having rebounded strongly in late May, USD/JPY has pushed on, with intraday dips continuing to find buyers.

A move above last week’s highs, around ¥110.84, would see ¥111.139 tested, and above here a new higher high is created. A close below ¥109.00 would be needed to dispel the current bullish view.

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