News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The #AustralianDollar may continue to outperform its haven-associated counterparts after breaking above key chart resistance. $AUDUSD, $AUDJPY, $AUDCHF levels to watch. $AUD
  • HSBC share price tumbled 3.2% after Chinese media agency Global Times reported that Beijing is considering putting HSBC into its Unreliable Entity List (UEL). Hang Seng Index fell 0.7% in early Asia trading hours.
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here:
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.53% Oil - US Crude: 0.35% Gold: 0.17% View the performance of all markets via
  • The two-day closure of the Japanese markets suggests that liquidity in both equity and forex could be thin, rendering #USDJPY and #Nikkei225 futures susceptible to large swings, should there be surprising news. Read more here:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.25% 🇦🇺AUD: 0.24% 🇯🇵JPY: 0.20% 🇪🇺EUR: 0.16% 🇳🇿NZD: 0.14% 🇨🇭CHF: 0.11% View the performance of all markets via
  • #Market Snapshot Broad risk-on tilt to kick off a fresh week of trade as the risk-sensitive $AUDUSD jumps back above the 0.73 mark. Haven-linked $USD drifting lower against its major counterparts while $JPY attempts to peg back lost ground.
  • The US #Dollar may fall if demand for haven-linked assets fall after testimonies from Powell and Mnuchin to the House. Better-than-expected data may compound the Greenback’s selling streak. Get your #currencies update from @ZabelinDimitri here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in NZD/USD are at opposite extremes with 71.11%. See the summary chart below and full details and charts on DailyFX:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
GBP/USD Drops to Monthly Lows Ahead of FOMC

GBP/USD Drops to Monthly Lows Ahead of FOMC

2016-09-20 16:30:00
Walker England, Forex Trading Instructor

Talking Points:

The GBP/USD is trading to new weekly lows after prices have broken below the critical 1.3000 value of support. While it was expected that US Dollar pairs may breakout tomorrow with the latest FOMC rate decision, the GBP/USD is already losing ground as traders speculate on the likelihood of a FED rate hike. Technically the GBP/USD is currently in a downtrend with prices declining as much as 498 pips from the monthly high at 1.3445. Trades should continue to monitor short-term price momentum going into tomorrow’s news to determine if this trend is set to continue, or retrace towards points of resistance.

GBP/USD, Daily Chart:

GBP/USD Drops to Monthly Lows Ahead of FOMC

(Created using Marketscope 2.0)

In the 10-minute graph below, the GBP/USD can be seen bouncing from this morning’s low of 1.2947. The Grid Sight Index (GSI) has interpreted this move as a developing short-term uptrend as the pair has continued to rise in the last 30 minutes of trading. After reviewing 48,444,623 pricing points, GSI has indicated that price action has continued to advance by 20 pips or more in 46% of the reported 59 historical matching events. If prices continue to retrace this morning’s move, traders should look for the GBP/USD to move through the first bullish historical distribution at 1.2988. A move through this point would indicate that the GBP/USD is at least temporarily supported, allowing traders to target new values of resistance.

Alternatively, GSI has indicated that prices have declined by 21 pips or more in 44% of the 59 historical matches. Today’s first bearish historical distribution is found at the Cables daily low of 1.2947. A move through this value would suggest that the GBP/USD is prepared to continue this morning’s decline. In this scenario, traders may look for the pair to continue moving lower towards the August 2016 swing low at 1.2865.

Want to learn more about GSI? Get started learning about the Index HERE.

GBP/USD Drops to Monthly Lows Ahead of FOMC

(Created using Grid Sight Index)

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Do you know the biggest mistake traders make? More importantly, do you know how to overcome the biggest mistake? Read page 8 of the Traits of Successful Traders Guide to find out [free registration required].

Contact and Follow Walker on Twitter @WEnglandFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.