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
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here:
  • Google finance-related search interest in 'Evergrande' has almost overtaken 'Covid'. 'Taper' doesn't even register on the scale
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here:
GBP/USD Slips Ahead of BoE's Carney and US President Trump's Thoughts

GBP/USD Slips Ahead of BoE's Carney and US President Trump's Thoughts

Nick Cawley, Strategist

Sterling Talking Points

- GBP/USD hits a one-week low, and trades back below 1.4000, as a combination of Sterling profit taking, political bickering and a resurgent US dollar weigh on the pair.

- BoE governor Mark Carney will appear before the House of Lords Committee this morning while US President Trump will give his first State of the Union speech much later in the day.

Sterling Erases Last Week’s Gains Against the US Dollar

A period of consolidation, and profit-taking for the British Pound after having hit a post-Brexit high of 1.43450 last week against the greenback. The pair currently trade either side of 1.4000 as the US dollar bounces back from levels last seen four years ago, driven primarily by a slightly more conciliatory tone adopted by US President Trump last week in Davos.

GBP has also been forced lower as pressure builds on UK PM Theresa May with many commentators now saying that her days in No. 10 are numbered with Brexit negotiations proving more difficult than previously thought. The recent strength in Sterling has been predicated on thoughts that both sides will push for a softer Brexit, keeping economic upheaval to both sides to a minimum.

BoE’s Carney at the House of Lords, President Trump’s First State of the Union Speech

Ahead UK central bank head Mark Carney will appear before the House of Lords Economic Affairs Committee. This is the Committee’s annual evidence session with the governor to explore current economic concerns and to get the BoE’s response. And much later in the US session today – and very early Wednesday morning in the UK – US President Donald Trump will give his first, formal, State of the Union speech, with his views on immigration, infrastructure and trade all likely to feature prominently.

Check out our new Trading Guides: they’re free and have been updated for the first quarter of 2018

GBPUSD Price Chart Daily Timeframe (August 2, 2017 – January 30, 2018)

GBP/USD Slips Ahead of BoE's Carney and US President Trump's Thoughts

Chart by IG

GBPUSD Client Sentiment Giving No Clues

IG Client Sentiment data show 38.0% of traders are net-long with the ratio of traders short to long at 1.63 to 1. In fact, traders have remained net-short since Dec 28 when GBPUSD traded near 1.33774; price has moved 4.6% higher since then. The number of traders net-long is 2.4% higher than yesterday and 14.0% higher from last week, while the number of traders net-short is 5.7% higher than yesterday and 17.7% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBPUSD prices may continue to rise. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias.

The Traits of Successful Traders and how to find the Number One Mistake Traders Make are just two of the topics covered in our Free Trading Guides.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

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