Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 69% 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.

AUD/USD, ​GBP/USD rally while USD/JPY advance falters at resistance ​​​

​​​AUD/USD, ​GBP/USD show positive divergence and may revert their trends to the upside as the US dollar slips after its US presidential election surge as USD/JPY advance falters at resistance. ​​​

GBP/USD Source: Adobe images

​​​AUD/USD rallies

AUD/USD is fast approaching Wednesday's high at $0.6644, a rise above which would confirm a bottoming formation with the 55-day simple moving average (SMA) at $0.6726 being eyed. Positive divergence also points towards a possible bullish trend reversal.

​​Minor support can be seen around the 61.8% Fibonacci retracement at $0.6576.

AUD/USD Source: TradingView.com
AUD/USD Source: TradingView.com

​GBP/USD sees positive divergence

​Following Wednesday's slide to $1.2835, GBP/USD is bouncing back and whilst doing so, displays triple positive divergence. This potentially points to a medium-term bullish trend reversal, provided that Wednesday's low underpins.

​The first upside target is the 17 October low at $1.2974, ahead of the key $1.3000-to-$1.3048 resistance zone. This would need to be exceeded, for a bullish reversal to be confirmed.

GBP/USD Source: TradingView.com
GBP/USD Source: TradingView.com

​USD/JPY hits resistance

USD/JPY has reached the ¥154.56 early June high as expected but seems to short-term falter below the ¥155.21 late July high.

​​Minor support below the ¥153.88 late October high and the 23 October high at ¥153.19 is seen along the 200-day SMA at ¥151.54.

USD/JPY Source: TradingView.com
USD/JPY Source: TradingView.com

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. See full non-independent research disclaimer and quarterly summary.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market.

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

Find out more

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off
Log in now

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform
Log in now

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Take advantage

Live prices on most popular markets

  • Equities
  • Indices
  • Forex
  • Commodities


Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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 spread betting and CFDs.

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