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
Please try again
Oil - US Crude
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
Wall Street
More View more
Real Time News
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
British Pound to Target Fresh Highs on Strong 4Q U.K. GDP

British Pound to Target Fresh Highs on Strong 4Q U.K. GDP

David Song, Gregory Marks,

- U.K. GDP to Expand for Fourth Consecutive Quarter

- 0.8% Growth Rate Remains the Highest Print for 2013

Trading the News: U.K. Gross Domestic Product

The U.K. economy is expected to grow another 0.7% in the fourth-quarter, and a marked pickup in 4Q GDP may spark fresh highs in the British Pound as it puts increased pressure on the Bank of England (BoE) to normalize monetary policy ahead of schedule.

What’s Expected:

Time of release: 01/28/2014 9:30 GMT, 4:30 EST

Primary Pair Impact: GBPUSD

Expected: 0.7%

Previous: 0.8%

DailyFX Forecast: 0.7% to 1.0%

Why Is This Event Important:

Indeed, there’s growing bets that the BoE will implement a dovish twist to its forward-guidance as the unemployment rate quickly approaches the 7% threshold, but Governor Mark Carney may adopt a more hawkish tone for monetary policy amid the stronger-than-expected recovery in the U.K.

Expectations: Bullish Argument/Scenario




ILO Unemployment Rate (3M) (NOV)



Retails Sales ex Auto (MoM) (DEC)



Mortgage Approvals (NOV)



The ongoing improvement in the labor market paired with the resilience in private-sector consumption may spur a strong 4Q GDP print, and a positive development should spur a bullish reaction in the GBPUSD as the central bank moves away from its easing cycle.

Risk: Bearish Argument/Scenario




Industrial Production (MoM) (NOV)



Manufacturing Production (MoM) (NOV)



Trade Balance (NOV)



However, the widening trade deficit along with the slowdown in business outputs may drag on the growth rate, and a dismal GDP figure may generate a larger correction in the pound-dollar as market participants weigh the outlook for monetary policy.

How To Trade This Event Risk(Video)

Join DailyFX on Demand for Current Trade Setups on the British Pound

Bullish GBP Trade: 4Q GDP Climbs 0.7% or Greater

  • Need green, five-minute candle following the GDP print to consider a long British Pound trade
  • If reaction favors a buy trade, long GBPUSD with two separate position
  • Set stop at the near-by swing low/reasonable distance from entry; look for at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is hit, set reasonable limit

Bearish GBP Trade: U.K. Growth Rate Misses Market Forecast

  • Need red, five-minute candle to favor a short GBPUSD trade
  • Implement same setup as the bullish British Pound trade, just in the opposite direction

Potential Price Targets For The Release


Forex_British_Pound_to_Target_Fresh_Highs_on_Strong_4Q_U.K._GDP_body_Picture_2.png, British Pound to Target Fresh Highs on Strong 4Q U.K. GDP

Chart - Created Using FXCM Marketscope 2.0

  • Remains Bullish Above 1.6300 (Higher Low); Searching for Higher High
  • Price & Relative Strength Index Retain Bullish Trend From July
  • Interim Resistance: 1.6700 Pivot to 1.6730 (100.0 expansion)
  • Interim Support: 1.6300 Pivot to 1.6310 (50.0 expansion)

Impact that the U.K. GDP report has had on GBP during the last quarter


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)

3Q A 2013

10/25/2013 8:30 GMT





3Q A 2013 U.K. Gross Domestic Product

Forex_British_Pound_to_Target_Fresh_Highs_on_Strong_4Q_U.K._GDP_body_Picture_1.png, British Pound to Target Fresh Highs on Strong 4Q U.K. GDP

The advance 3Q GDP print out of the U.K. came in in line with expectations, prompting an initial spike in Pound strength. Nevertheless, USD saw a slight comeback as the trading week came to a close. With U.K. growth expectations only having strengthened since then, this release will be closely watched with estimates pointing to a YoY growth rate not seen since 2008, although market participants may pare back bets ahead of the FOMC on Wednesday.

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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