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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​​EUR/USD, GBP/USD drop as USD/JPY rallies following anticipated Trump win​​​

​​​EUR/USD, GBP/USD slide, USD/JPY rallies as financial markets expect Trump to win.​​

Dollar Source: Adobe images

​​EUR/USD drops nearly 2% before stabilising

An anticipated Donald Trump US presidential election victory provoked strong gains in the US dollar with EUR/USD bearing the brunt.

The swift fall through the $1.0778-to-$1.0761 support area, now because of inverse polarity a resistance zone, is bearish for the cross with the June lows at $1.0671-to-$1.0666 being eyed.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

GBP/USD rejected by resistance

GBP/USD drops like a stone towards its late October low at $1.2844 as Donald Trump is expected to win the 2024 US presidential election. A fall through $1.2844 puts the 200-day simple moving average (SMA) at $1.2813 on the map, below which lies the August low at $1.2665.

Minor resistance can be spotted at the 23 October low at $1.2908.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

USD/JPY bullish

USD/JPY is gunning for the ¥154.56 early June high and the ¥155.21 late July high, having sharply risen from support seen along the 200-day SMA at ¥151.54.

USD/JPY chart Source; TardingView.com
USD/JPY chart Source; TardingView.com

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