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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 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. 70% 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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GBP/USD edges lower while AUD/USD slumps​

The dollar has strengthened against the pound, and has enjoyed a resurgence against its Australian counterpart.

AUD/USD Source: Adobe images
Forex Shares AUD/USD United States dollar GBP/USD Australian dollar

Written by

Chris Beauchamp

Chris Beauchamp

Chief Market Analyst

Article publication date:

​​​GBP/USD

​The GBP/USD price has eased back after nosing above $1.30 in yesterday’s session. However, for a short-term bearish view to emerge we would need to see a drop below $1.2850, potentially signalling a pullback in the uptrend from January.

​A renewed move above $1.30 targets $1.31, and then on towards $1.34.

GBP/USD chart Source: IG
GBP/USD chart Source: IG

​AUD/USD

​After a rally off the lows yesterday, the AUD/USD pair has slumped, dropping back towards A$0.63 and raising the prospect of a move back towards the early March lows at A$0.62.

​Below this the price would target A$0.6150, the lows from late January and early February. Buyers will need a recovery back above A$0.6350 to arrest the move to the downside and put further gains in play.

AUD/USD chart Source: IG
AUD/USD chart Source: IG

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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 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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