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Spread bets and 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 spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and 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 spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Euro takes a hit as far left comes out ahead in French election result

​​​​Likely political gridlock in France leads to market jitters.

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​​​EUR/USD unhinged as France in limbo

EUR/USD, although slightly on the back foot on Monday morning, still has the $1.0852 mid-June high in its sights, provided that the 200-day simple moving average (SMA) at $1.0797 underpins.

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

​EUR/GBP takes a beating

​Last week's EUR/GBP rejection by the key £0.8484-to-£0.8503 resistance zone has so far taken it to Monday's £0.8440 low, to marginally below the late June lows at £0.8431-30 which should offer support.

​Minor resistance can be seen at Friday's £0.8478 high.

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

​EUR/JPY stuck below multi-decade highs

EUR/JPY's advance is taking a breather below its ¥174.74 August 1992 peak.

​Minor support around the 1 July high at ¥173.67 currently holds with further potential support being seen at the 24 June high at ¥171.44 and in the ¥170.29-to-¥170.14 region.

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

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