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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Low
High
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
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.49% France 40: 0.45% Germany 30: 0.45% US 500: 0.34% Wall Street: 0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/mYqmNppOqU
  • 🇫🇷 Business Confidence (JAN) Actual: 98 Expected: 94 Previous: 93 https://www.dailyfx.com/economic-calendar#2021-01-21
  • Heads Up:🇪🇺 European Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-21
  • Turkey weighs end to dividend freeze for banks - BBG $TRY
  • Chinese Commerce Ministry: China will take measures against actions undermining interest - BBG $USDCNH
  • EUR/USD Hovering Above Support as ECB Rate Decision Shifts into View - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/01/21/EURUSD-Hovering-Above-Support-as-ECB-Rate-Decision-Shifts-into-View.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr #ECB $EUR $EURUSD https://t.co/uOpwtx661p
  • 🇮🇩 Interest Rate Decision Actual: 3.75% Expected: 3.75% Previous: 3.75% https://www.dailyfx.com/economic-calendar#2021-01-21
  • Chinese Commerce Ministry: Importance of relations with the United States is self-evident - BBG $USDCNH
  • Bank Indonesia leaves 7-day reverse repo rate unchanged at 3.75% - BBG $USDINR
  • Heads Up:🇫🇷 Business Confidence (JAN) due at 07:45 GMT (15min) Expected: 94 Previous: 93 https://www.dailyfx.com/economic-calendar#2021-01-21
GBPUSD Trades at Highest Since 2009, UK GDP to Show Economic Pickup

GBPUSD Trades at Highest Since 2009, UK GDP to Show Economic Pickup

David Maycotte,

Talking Points:

The British Pound rose against the US Dollar to trade at the highest level since 2009. In what is a quiet European session there is no obvious news-flow that may have sparked a rally in GBPUSD. On Tuesday, U.K. first quarter GDP is released and is expected to show a pick-up in activity.

“The fundamental developments coming out of the U.K. may continue to heighten appeal of the British Pound,” says DailyFX Strategist David Song, “BoE Governor Mark Carney may adopt a more hawkish tone for monetary policy as the outlook for growth and inflation improves.”

DailyFX Technical Strategist Kristian Kerr says this could be the start of a next leg higher. “GBPUSD has stalled just below the 1.6850 area…, [and this area] needs to be overcome to confirm the start of a new leg higher in Cable,” says Kerr, “a daily close under 1.6710 would turn us negative on the pound.”

GBPUSD Daily Chart from Price and Time: Gold Cracks Big support

GBPUSD Trades at Highest Since 2009, UK GDP to Show Economic Pickup

Chart Prepared by Kristian Kerr using FXCMMarketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

Want to trade with proprietary strategies developed by FXCM? Find out how with Mirror Trader.

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

DISCLOSURES