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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • 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:
  • 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:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • (Weekly Outlook) Australian Dollar Outlook: AUD/USD Divergence With Wall Street Risks Continuing #AUD $AUDUSD #Fed #Stocks
  • The US Dollar steadied against most ASEAN currencies this past week. Key support levels remain in play looking at USD/SGD, USD/THB and USD/PHP. USD/IDR may rise with a new trendline. Get your market update from @ddubrovskyFX here:
  • EUR/USD has been looking toppy since late May as bearish technical signals played out. But, rising Euro short bets from retail traders hint that the currency may hold its footing. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen may rise as retail investors increase their long exposure in pairs like USD/JPY and EUR/JPY. Will these pairs turn lower? What are key levels to watch for? Find out from @ddubrovskyFX here:
GBP/USD Weekly Forecast: GBP/USD Eyes Yearly Peak, EUR/GBP Holds Range

GBP/USD Weekly Forecast: GBP/USD Eyes Yearly Peak, EUR/GBP Holds Range

Justin McQueen, Analyst


  • GBP Bulls Aim for YTD Peak
  • Market Adopts Buy the Dip Stance as Pivot Holds
  • EUR/GBP Range Maintained

GBP Bulls Aim for YTD Peak

As we close out in what has been a volatile week, GBP/USD is on the front foot with the pair nearing its weekly highs having reclaimed the 1.41 handle. That said, closing at such levels puts the YTD peak (1.4235) firmly in focus for next week.

The Need to Know Complete Guide on Trading the Pound (GBP)

Market Adopts Buy the Dip Stance as Pivot Holds

The backdrop for the Pound remains favourable as highlighted by the better than expected GDP report. While PM Johnson sticking to his plan to unwind lockdown measures as previously scheduled, despite rising concerns over the Indian Covid variant has seen the market take a “buy the dip” approach in Cable with the 1.40 handle being the key pivot. On the technical front, with dips finding support from 1.40., holding above the 100DMA also keeps risks tilted to the upside in the medium term. Alongside this, positioning is somewhat cleaner for bulls to re-emerge given the recent unwind of net longs by fast money accounts (leveraged funds) ahead of the BoE and Scottish Election.

GBP/USD Chart: Daily Time Frame

GBP/USD Weekly Forecast: GBP/USD Eyes Yearly Peak, EUR/GBP Holds Range

Source: Refinitiv

EUR/GBP Range Maintained

EUR/GBP: Despite the strong performance in the Pound, EUR/GBP has maintained its well-defined range. Topside resistance at 0.8730 remains firm and tests below 0.8600 have been somewhat short-lived. That said, the continued rangebound price action is likely to persist in the short term, given that the greenback has been the main driver in G10 FX as opposed to idiosyncratic factors. Therefore, the bias would be to fade the range bottom and tops.

GBP/USD Weekly Forecast: GBP/USD Eyes Yearly Peak, EUR/GBP Holds Range

Source: Refinitiv

Looking ahead to next week, tier 1 UK data will be released and following the large beat in US inflation, BoE watchers will be closely following UK inflation. However, as has been stated by central banks across the globe the inflation spike has been well-telegraphed and is expected to be transitory (a word that will be overused by peak summertime).

GBP/USD Weekly Forecast: GBP/USD Eyes Yearly Peak, EUR/GBP Holds Range

Source: Refinitiv, DailyFX

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