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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.

FX levels to watch – EUR/USD, GBP/USD, USD/JPY

UK employment figures have put pressure on sterling, while the euro pushes below yesterday’s low.

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EUR/USD moves lower

Selling pressure remains here for EUR/USD, with the price pushing on towards $1.23.

As yesterday, the $1.2165 level comes into play next. Any rally will target the highs of around $1.2540 from earlier in the month.

EUR/USD price chart

GBP/USD knocked back by employment data

Today’s unemployment reading has seen the bears take control of GBP/USD, pushing the price below yesterday’s lows.

The first downside level to watch is $1.3836, followed by $1.3764.  A reversal above $1.4150 is needed to change the bearish view.

GBP/USD price chart

USD/JPY pushes higher for now

Steady gains from the lows continue, although USD/JPY remains in a downtrend from the highs of the year so far.

This could move towards the ¥108 level and still be a selling opportunity. A breakout above ¥109 is needed to suggest a definitive turn higher.

USD/JPY price chart

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