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. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD gains stall, as GBP/USD and AUD/USD push higher

While the euro has run into resistance against the dollar, GBP/USD and AUD/USD have found renewed strength.

EUR/USD struggles after Wednesday retreat

The bounce of EUR/USD has faltered, with the price dropping back from Wednesday’s highs above $1.196.

This raises the prospect of a renewed move back towards $1.185, where the sell-off stopped last week. Buyers will need to get the price back above $1.195 to preserve a more bullish view in the short term.

GBP/USD targeting $1.40 ahead of BoE meeting

GBP/USD has managed to hold on to almost all the gains of the week so far, and crucially appears to be carving out a higher low intraday as well.

A renewed move above $1.40 solidifies the bullish view and brings $1.42 into view. Sellers will hope that the price can drop back below $1.39 in order to open the path to $1.38 and the low from last Friday.

AUD/USD still climbing

AUD/USD looks strong still, with the price marching higher over the previous three sessions.

A series of intraday higher highs and higher lows continues to point towards a bullish outlook, with $0.765 as the first target as it claws back lost ground from the middle of the month.

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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.8 pips on EUR/USD
  • Analyze market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on the most popular forex markets

liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only

You might be interested in…

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 forex provider.

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