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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD and GBP/USD lose directional focus amid Brexit uncertainty

EUR/USD and GBP/USD lose much of their directional conviction, with year-end Brexit uncertainty driving volatile consolidation.

EUR/USD Source: Bloomberg

​EUR/USD starting to fade once more

EUR/USD is starting to ease back once again after the partial recovery seen overnight. Set within a period of clear indecision, a break back below the $1.2152 mark could start to see further bearish short-term momentum.

However, with a wider uptrend in play, there is still a good chance we are looking at a retracement of the $1.2059-$1.2273 rally.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD sees indecision dominate as Brexit deadline looms

GBP/USD has understandably seen a distinct lack of direction over the course of the past week, with the latest creation of higher lows and lower highs highlighting that indecision. With just over a week left until the Brexit deadline, we will soon find out whether a last-minute deal can be reached.

At this point, pretty much any deal would likely boost the pound. For now, the chart appears to be in wait-and-see mode, with a break below $1.3304 or above $1.3499 required to bring about a fresh directional breakout. ​

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

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