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
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Bullish
Gold
Bearish
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
GBP/USD
Mixed
USD/JPY
Bullish
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
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.51% 🇯🇵JPY: 0.08% 🇨🇭CHF: 0.04% 🇳🇿NZD: 0.00% 🇪🇺EUR: -0.02% 🇨🇦CAD: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/k8vBqgtTyX
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/S9CEcBm5Qe https://t.co/Dl0XNLJ8FM
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.13% Wall Street: 0.10% US 500: -0.01% France 40: -0.39% FTSE 100: -1.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hPEruv9ifF
  • It was quite telling that during the Q1 crash, no central bank with negative rates went deeper into negative territory https://t.co/8TFclrghkE
  • Nothing like a good old August melt-up in $USDTRY - Reminder, next Turkish Central Bank Rate Decision is scheduled for Aug 20th - Record high 7.26 https://t.co/yhyBZ3qZCJ
  • Gold Price Surge May Be Losing Steam, US Fiscal Stimulus Eyed - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/08/06/Gold-Price-Surge-May-Be-Losing-Steam-US-Fiscal-Stimulus-Eyed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #XAUUSD #gold #stimulus https://t.co/fBBfTC9nvW
  • BoE Governor Bailey says negative rates are in the toolkit, but it is not in the current plan to use them $GBP
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/CVJCHaxfJs
  • State banks need to "TRY" harder to curb this selling https://t.co/5uxrOsqf6t
  • 🇬🇧 Construction PMI (JUL) Actual: 58.1 Expected: 57 Previous: 55.3 https://www.dailyfx.com/economic-calendar#2020-08-06
GBPUSD Breaking Higher as Probability of UK Rate Increase Rises

GBPUSD Breaking Higher as Probability of UK Rate Increase Rises

2018-07-26 09:30:00
Martin Essex, MSTA, Analyst
Share:

GBP price, news and analysis:

  • GBPUSD has risen above the upper bound of a symmetrical triangle chart pattern as the probability rises of a UK interest rate increase next week.
  • The pair is still benefiting from news that UK Prime Minister Theresa May is to take personal control of the Brexit negotiations.

Our trading forecasts for Q3 have been published; you can find the GBP guide here.

And check out the IG Client Sentiment data to help you trade profitably.

GBPUSD breaks higher

GBPUSD is well placed for further gains after a break to the upside from a symmetrical triangle pattern on the charts that has contained the price for the past 10 days. That suggests further gains ahead of next Thursday’s meeting of the Bank of England’s monetary policy committee, which is widely expected to increase the bellwether UK Bank Rate to 0.75% from 0.50%.

GBPUSD Price Chart, Hourly Timeframe (July 16-26, 2018)

Latest GBPUSD price chart.

Chart by IG

In the overnight index swaps market, where rate move probabilities are assessed, the chances of a rate hike now stand above 80%, with GBP sentiment helped too by news earlier this week that UK Prime Minister Theresa May is to take personal control of the Brexit negotiations with the EU.

UK interest rates probability.

Chart by Thomson Reuters

UK/US trade deal doubts

One key question looking further ahead is whether a post-Brexit trade deal between the UK and the US has been helped or hindered by the improved prospects of a new trade deal between the EU and the US. However, a climb in GBPUSD to the highs of 1.3269 on July 17 and then 1.3293 on July 16 is looking increasingly possible.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES

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.