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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

EUR/USD, GBP/USD, and USD/JPY see dollar take a breather

EUR/USD, GBP/USD and USD/JPY reverse after dollar dominance, but will it last?

​EUR/USD slumps into two-month lows

EUR/USD has dropped into a two-month low following a head and shoulders breakdown earlier in the week.

The pair has been extending those losses since breaking below that $1.2059 support level. That bearish picture holds for now, with a move through the $1.2050 swing high required to negate this short-term downtrend.

GBP/USD rebounds into deep retracement zone

GBP/USD has managed to regain ground after the wedge breakdown seen earlier in the week. While price has broken up through trendline resistance, there is a good chance we see this wider Fibonacci retracement zone come into play.

Ultimately the wedge breakdown does raise the risk of a more protracted pullback. Thus it makes sense to watch for a rise through the $1.3858 level to resume the wider bullish trend. Until then, watch for whether price respects of break the $1.3712 resistance level.

USD/JPY starts to reverse after latest leg higher

USD/JPY is in retracement mode after a period of gains that took the pair into the highest level since mid-November.

With a clear uptrend in play here, the current decline looks likely to provide a retracement phase before we move higher once again. That view holds unless we see price break below the ¥104.97 swing-low.

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