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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

​​​EUR/GBP tumbles to critical support, AUD/USD through support while GBP/USD rallies​​

​​​EUR/GBP tumbles, GBP/USD rallies on higher-than-expected UK inflation print while AUD/USD slips through support.​​

USD Source: Getty Images

​​​EUR/GBP drops to key support

EUR/GBP drops like a stone towards its major £0.8503-to-£0.8493 support area from which it may recover once again as it has done since August 2023. Were a daily chart close below £0.8493 to be made, though, the July and August 2022 lows at £0.8409-04 would be targeted.

​Minor resistance sits at the £0.8521 mid-April low and above it at the £0.8531 late-April low.

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

​GBP/USD grinds higher

GBP/USD grinds higher in low volatility in two-month highs with the $1.2803 late-March high remaining in sight.

​Potential slips may find support around Friday's low at $1.2645.

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

​AUD/USD tries to bounce off support

AUD/USD tries to bounce off its previous key resistance - now because of inverse polarity support zone - at $0.6667 to $0.6644, just as it did last week when it recovered from it. While it holds on a daily chart closing basis, last week's high at $0.6714 remains in sight and, above it, the $0.685 area.

​Minor support below $0.6644 is seen at the $0.6629 mid-May high.​​

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

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