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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/USD and GBP/USD see some small gains, but upside still limited

The euro and sterling have made some headway against the dollar, but overall a cautious view still prevails.

Euro Source: Bloomberg
Forex Euro Pound sterling EUR/USD GBP/USD Market trend
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

EUR/USD ticks higher

Some small gains for EUR/USD over the past 24 hours have lifted the pair off recent lows, but now the $1.134 area comes into view as a potential source of resistance.

This is where gains have stalled over the last month. If this remains unbroken then the range continues to hold, frustrating both sides.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD clings to $1.32

GBP/USD continues to bounce along near $1.32, but with rising stochastics a more bullish view might yet prevail. In any case, the continued defence of $1.32 does at least hold the bearish view relatively in check.

However, buyers need to be careful since, as we saw last week, there is plenty of selling pressure should a bounce develop.

GBP/USD chart Source: ProRealTime
GBP/USD 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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