Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

EUR/USD edges higher but GBP/USD and AUD/USD under pressure

A bout of risk-off moves has put pressure on the pound and the Aussie, but EUR/USD is trying to hold firm.

EUR/USD attempts to move up

EUR/USD appears to have stabilised around $1.12 for now, but given the risk-off views across markets this respite may well be limited.

A rebound towards $1.14 would likely bring out the sellers once again, with a much bigger rally back to $1.15 needed to provide some evidence of a more bullish view emerging.

GBP/USD under pressure near $1.32

GBP/USD has hovered near a new lower low, as it breaks out of the descending channel that has been in place since July.

$1.3204, $1.3109 and then $1.3039 become the levels to watch on the downside, if selling gathers pace. A short-term rebound comes within the wider downtrend but could run back towards $1.347 and $1.3515.

AUD/USD slumps to lower low

The risk-off turn has amplified the move to the downside here with AUD/USD, and now the August low at $0.71 is under threat.

After a huge slump from the October peak the price seems content to keep moving lower, which could bring the $0.70 level itself into view.

This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Any research provided should be considered as promotional and was prepared in accordance with CFTC 1.71 and designed to promote the independence of investment research. See our Summary Conflicts Policy, available on our website.

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