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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 70% 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 and USD/JPY

The US dollar’s revival is hitting EUR/USD and GBP/USD hard, with the latter under pressure as the Brexit process goes on.

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EUR/USD back down as dollar recovers

The sellers have reasserted their control over the last few days, with the EUR/USD's rally towards $1.15 providing a selling opportunity.

Below $1.13 the price heads towards to the $1.1215 lows of earlier in the month. In the short term, the price may bounce, but any move back towards $1.1376 is still another likely selling opportunity.

EUR/USD chart

GBP/USD slumps as Brexit worries weigh

Expectations of a frosty reception in Parliament for the UK’s Withdrawal Agreement have driven more downside in GBP/USD, and the price is now heading towards the lows of late October at $1.2680, and then the August low at $1.2661.

Rallies of late have run into heavy selling pressure, so a bullish development requires a close above $1.29.

GBP/USD chart

USD/JPY rally revives

The dollar continues to find its feet, with a sustained pickup in USD/JPY over the past week.

Gains yesterday stalled at ¥113.64, but above here the ¥114.00 area comes into view, followed by the peak from October at ¥114.50. Dips towards ¥113.00 would still be potential buying opportunities.

USD/JPY chart

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