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
More View more
Real Time News
  • If all these new demands get incorporated in the final package, the legislation's price tag will drop significantly. We could be looking at something close to $1.5 trillion or even less $USD $XAUUSD
  • *Reminder: Weekly Strategy Webinar Tomorrow Morning at 8:30am ET on DailyFX!
  • According to GS, S&P 500 daily returns are positively correlated with flows. Over the last 3 months, flows have been strong, but the $SPX was flat (model predicted a 7% rally). When SPX returns and flows deviate, they tend to mean-revert in subsequent periods #trading
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • How does stock market liquidity benefit its traders? Learn more here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • Quarterly earnings from Netflix and Tesla, two big tech companies, will take center stage next week and could set the trading tone for the S&P 500 and the Nasdaq 100. Get your weekly equities forecast from @DColmanFX here:
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.
GBP Continues to Carve Higher Lows Ahead of BoE- Fresh High on Tap?

GBP Continues to Carve Higher Lows Ahead of BoE- Fresh High on Tap?

David Song, Strategist
GBP_Continues_to_Carve_Higher_Lows_Ahead_of_BoE-_Fresh_High_on_Tap_body_Picture_5.png, GBP Continues to Carve Higher Lows Ahead of BoE- Fresh High on Tap?

Fundamental Forecast for the British Pound: Bullish

  • British Pound Mixed after ‘In-Line’ 4Q GDP Reading
  • Cycle turn window in GBP/USD
  • For Real-Time Updates and Potential Trade Setups on the British Pound, sign up for DailyFX on Demand

The British Pound appears to be carving a higher low ahead of the Bank of England (BoE) February 6 meeting as the central bank is widely expected to normalize monetary policy ahead of schedule.

The Monetary Policy Committee (MPC) interest rate decision may reinforce the bullish sentiment surrounding the sterling as the central bank moves away from its easing cycle, but we may see a limited market reaction to the meeting should the BoE refrain from releasing a policy statement. In turn, the quarterly inflation report due out on February 12 may have a larger impact on the policy outlook, and the GBPUSD remains at risk of a larger correction over the near-term should the fundamental developments coming out of the U.K. dampen expectations of seeing a rate hike later this year.

Indeed, there’s growing bets that the MPC will implement a more dovish twist to its forward-guidance as the U.K. jobless rate quickly approaches the BoE’s 7% threshold for unemployment, but Governor Mark Carney may take a more aggressive approach in addressing the risk for an asset-bubble as the central bank head sees a further pickup in housing throughout 2014.

With that said, the technical outlook continues to favor the topside targets for the GBPUSD as it retains the bullish trend dating back to July, and the British Pound looks poised for a more meaningful at the 1.6700 handle as it puts in another higher low above the 1.6400 region. - DS

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