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. See our updated Privacy Policy here.



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
Please try again
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 US Dollar is losing ground against a few ASEAN counterparts. USD/SGD, USD/IDR and USD/PHP seem to be maintaining a downside bias. USD/THB may rise. Get your market update from @ddubrovskyFX here:
  • Treasury Sec. Yellen: - Investments and tax proposals in "Jobs Plan" will enhance net profitability of corporations, improve global competitiveness - These are investments to make the economy more competitive and sustainable
  • Treasury Sec. Yellen: - Corporate sector must bear its fair share, plan to return corporate tax toward the historical norm - We will target incentives for companies to move funds, operations overseas
  • Treasury Sec. Yellen: - We must improve public R&D to maintain America's technological edge - We must build support systems to improve quality of life and opportunities for those most impacted by wealth inequality
  • Treasury Sec. Yellen: - We must reorient the framing of US fiscal policy - Poor US fiscal policy has meant infrastructure wasn't maintained or modernized
  • Treasury Sec. Yellen: - Innovation required from public & private sector to improve the economy - We must invest in public infrastructure and institutions that drive productivity
  • Treasury Sec. Yellen: - Wage gains and profits have benefitted the top families in America - Middle class families have faced wage stagnation
  • Bitcoin lower for the 4th consecutive day, but crucially held above $42,000 #BTC #Bitcoin $BTCUSD
  • US Dollar Index extends its recent decline, dips back below 90 $USD $DXY
  • RT @ParikPatelCFA: Indian flowers have patels not petals
GBPUSD Levels to Know Ahead of BoE, NFPs - Key Resistance at 1.57

GBPUSD Levels to Know Ahead of BoE, NFPs - Key Resistance at 1.57

Michael Boutros, Strategist

Talking Points


GBPUSD Levels to Know Ahead of BoE, NFPs - Key Resistance at 1.57

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • GBPUSD consolidating below resistance at 1.5680-1.5700
  • Topside breach targets 1.5774 & key resistance into 1.5878
  • Interim support 1.5530 backed by 1.5468 & 1.5358
  • Daily momentum holding above 50 – outside reversal day – constructive
  • RSI close sub-50 alongside a move below 1.5530 would be bearish
  • Key Event Risk Ahead: BoE Interest Rate Decision & U.K. Quarterly Inflation Report Tomorrow and U.S. Non-Farm Payrolls on Friday

GBPUSD 30min

GBPUSD Levels to Know Ahead of BoE, NFPs - Key Resistance at 1.57

Notes: Sterling has continued to consolidate after testing key resistance last week with the weekly opening range highlighting the 1.5530-1.5650 zone heading into key event risk into the close of the week. A breach above 1.57 would be needed to open up the next big leg higher for the pound with such a scenario targeting long scalps into the May high-day close at 1.5774.

A break sub-1.5528/36 shifts the focus to the short-side targeting confluence support into 1.5467. Subsequent support targets are eyed at 1.5420 & the July low-day close at 1.5359. A quarter of the daily average true range yields profit targets of 26-29pips per scalp. Caution is warranted heading into major event this week with the Bank of England Interest Rate Decision & the Quarterly Inflation report tomorrow leading the way into Friday’s highly anticipated U.S. Non-Farm Payrolls employment report.

For updates on this scalp and more setups throughout the week subscribe to SB Trade Desk

Relevant Data Releases

GBPUSD Levels to Know Ahead of BoE, NFPs - Key Resistance at 1.57

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex,contact him at or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFXat 12:30 GMT (8:30ET)

Interested in learning about Fibonacci? Watch this Video

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