Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.

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

UK employment figures have put pressure on sterling, while the euro pushes below yesterday’s low.

EUR/USD moves lower

Selling pressure remains here for EUR/USD, with the price pushing on towards $1.23.

As yesterday, the $1.2165 level comes into play next. Any rally will target the highs of around $1.2540 from earlier in the month.

GBP/USD knocked back by employment data

Today’s unemployment reading has seen the bears take control of GBP/USD, pushing the price below yesterday’s lows.

The first downside level to watch is $1.3836, followed by $1.3764.  A reversal above $1.4150 is needed to change the bearish view.

USD/JPY pushes higher for now

Steady gains from the lows continue, although USD/JPY remains in a downtrend from the highs of the year so far.

This could move towards the ¥108 level and still be a selling opportunity. A breakout above ¥109 is needed to suggest a definitive turn higher.

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