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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

FX levels to watch – EUR/USD, GBP/USD, AUD/USD

The dollar rally has eased off, but sterling is still struggling following a dovish BoE meeting. 

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EUR/USD rebounds

EUR/USD has finally managed to rebound, but it has given back some of its gains from yesterday.

A failure to push on above $1.1950 would signal that the sellers are back in charge, and would target $1.1820 and then down to $1.1717.

GBP/USD unable to break out of range

The increased volatility of yesterday resulted in GBP/USD ending up where it started, still unable to break out of its $1.3480-$1.36 range.

A break of this is still required to indicate the next direction. However, the continued price action above $1.35 might suggest a rebound is in play, at least in the short term.

AUD/USD may rebound

The substantial rally yesterday has raised hopes of a rebound for AUD/USD, but it needs to clear $0.7560.

Above here, $0.7650 comes into play, while a turn lower targets $0.7470 and Wednesday’s low at $0.7410. 

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