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

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​​​​​​EUR/GBP comes under pressure, but AUD/USD and EUR/JPY keep rising​​​​​​​

While the euro is retreating against sterling, it has rallied versus the yen. Meanwhile, AUD/USD is moving higher once more.

USD/GBP Source: Adobe images
Forex Pound sterling Euro Japanese yen AUD/USD United States dollar
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

EUR/GBP slumps

​A reversal continues here with EUR/GBP, taking the pair back below the 200-day simple moving average (SMA).

​A continuation of the losses will target £0.8492, the peak of 1 July and the top end of the gap down from early June. A close below this reinforces the view that the price is headed lower. Buyers would ideally want a close back above the 200-day SMA to avert this bearish case.

EUR/GBP chart Souce: ProRealTime
EUR/GBP chart Souce: ProRealTime

​AUD/USD pushes through 200-day MA

​A brief wobble on Friday and Monday saw the price of AUD/USD stumble at the 200-day SMA, but it is pushing higher once again today.

​A close above the 200-day SMA bolsters the bullish view and helps to argue for further gains in the direction of $0.67. Sellers will want a reversal back below $0.655 to suggest a new leg lower has begun.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

​EUR/JPY moves higher

​Fresh gains have carried the price back towards ¥162.00 with EUR/JPY, maintaining the recovery from last week’s lows.

​A close above ¥162.00 would put the price on course to test ¥163.64, highs from November and February, and then the 200-day SMA (currently ¥164.00).

EU/JPY chart Source: ProRealTime
EU/JPY chart Source: ProRealTime

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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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