Skip to content

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 renewed weakness in the dollar means we have seen strong gains for major FX pairs this morning.

Video poster image

EUR/USD driven by USD weakness

EUR/USD looks to be resolving the consolidation of the past week, in favour of a fresh move to the upside.

The key development to watch for now would be a close above $1.2323, which would open the way to $1.25. Pullbacks remain buying opportunities, as the pair continues to grind out more higher highs and higher lows.

GBP/USD returns to its pre-Brexit state

We are well and truly into pre-Brexit territory now for GBP/USD. Dollar weakness continues to drive this, and the upside levels to watch now are $1.4352 and then $1.4769.

Having gone rather parabolic in recent days, the pair may be vulnerable to a pullback. Support is possible around $1.4012 and then $1.3659.

AUD/USD also goes parabolic

AUD/USD seems determined to head back to the 2017 highs of around $0.81.

Dips are short-lived, and the overall strong momentum looks set to continue. Pullbacks towards $0.78 continue to be buying opportunities. 

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.

Find articles by writer