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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, USD/JPY

FX markets have seen some US dollar weakness, providing breathing room for sterling and the euro.

USD
Source: Bloomberg

EUR/USD moves above trendline resistance

Gains for EUR/USD have stalled around the $1.1680 mark, but the price has managed to push above downtrend resistance from the April highs.

From here $1.1720 comes into play, and then on to $1.1850. A move back below trendline resistance would bring the pair back towards the $1.1550 zone of support that has held since the end of May.

GBP/USD mixed as PMI figures arrive

The price for GBP/USD has moved towards possible trendline resistance at $1.3230, and a turn lower from here would bring the $1.3040 level into play once more.

Above here, $1.33 and then $1.3470 are the areas to watch for potential resistance.

USD/JPY stalled at resistance

Yet again another attempt to move above ¥110.84 has failed for USD/JPY.

However, with a possible higher low being created overnight, the price may yet mount another attempt to clear this resistance level and move on to ¥111.40. Below ¥110.10, the price will head back towards possible support at ¥109.50.

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