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
Wall Street
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
More View more
Real Time News
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here:
  • The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council. Get your weekly Euro forecast from @MartinSEssex 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.
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • 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:
  • Further your forex knowledge and gain insights from our expert analyst @ @MartinSEssex and @DColman on EUR with our free Q4 market analysis guide, available for free today. #Dailyfxguides
  • 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:
  • RT @Stephanie_Link: 84% of $SPX companies have beaten EPS estimates to date for Q3, which is tied for the 3rd highest percentage since 2008…
  • What is #NFP and how can you trade it? Find out:
  • What does it mean when one candle fully engulfs the previous in its price action? The bullish engulfing candle is one of the forex market?€?s most clear-cut price action signals. Figure out how to identify this pattern here:
Sterling Week Ahead: Brexit Turbulence Will Weigh on GBP

Sterling Week Ahead: Brexit Turbulence Will Weigh on GBP

Nick Cawley, Strategist

GBP Prices, News and Analysis

  • Brexit votes represent a very real risk for UK PM Theresa May’s political survival.
  • UK hard data may underpin Sterling but politics are firmly in control this week.

DailyFX Q3 Trading Forecasts have just been released for a range of currencies and commodities, including GBP and USD.

GBP Will Dance to The Brexit Tune

It’s likely to be a long week for UK PM Theresa May as Conservative hardliners ready themselves for clashes over the UK’s recent Brexit negotiation bill. Last week’s White Paper disappointed many Brexiteers who will get a chance to scupper the proposal over the next two days when various bills are voted on in Parliament. With PM May’s position under increasing scrutiny, any further defeats on the Brexit proposal could spark a vote of confidence which would ultimately lead to her demise. The EU are also expected to comment on the UK’s White Paper and any further demands for concessions may well derail the process for good.

GBP Hard Data May Prove Supportive for The British Pound

A slew of UK data this week with all eyes on Tuesday’s employment and wages release and Wednesday’s inflation numbers. In addition, BOE’s Carney, Cunliffe and Stheeman testify to the Treasury Select Committee on Tuesday on the Financial Stability Report. UK employment is expected to remain at a near four-decade low while inflation is likely to edge higher, fueling thoughts that the UK central bank may hike rates at the next MPC meeting on August 2.

GBPUSD Remains on Edge

The British Pound is likely to remain volatile over the next few session and traders should watch out for various levels of support and resistance:

Support Levels - - 1.30493 (June 28 low) and 1.30272 (Fibonacci retracement)

Resistance Levels - - 1.33018 (Fibonacci retracement) and 1.33633 (July 9 high)

IG Client Sentimentshows traders are net-long GBPUSD, a bearish contrarian trading bias.

GBPUSD Daily Price Chart (July 2017 – July 16, 2018)

Sterling Week Ahead: Brexit Turbulence Will Weigh on GBP

DailyFX has a vast amount of updated resources to help traders make more informed decisions. These include a fully updated Economic Calendar, and a raft of Educational and 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.