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
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX! A look at the levels heading into #FOMC -
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Earnings, Inflation Check out @RichDvorakFX's latest market recap and preview plus all the weekly forecasts from the @DailyFXTeam at the link below! Link to Analysis - $EURUSD $SPX #Trading
  • 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:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
GBP/USD Uptrend Hanging By a Thread on Brexit Latest, USD Gains

GBP/USD Uptrend Hanging By a Thread on Brexit Latest, USD Gains

Daniel Dubrovsky, Strategist

Asia Pacific Market Open – Theresa May, Brexit, GBP/USD, US Dollar, US Services PMI

  • Theresa May sent Sterling tumbling, calling Brexit negotiations with EU at an impasse
  • US Dollar recovered after Thursday’s selloff, gains halted on weak services PMI data
  • GBP/USD uptrend hangs by a thread: Bearish engulfing and break under a rising line

Find out what the #1 mistake that traders make is and how you can fix it!

The British Pound plummeted against all of its major counterparts on Friday as the latest Brexit news accelerated a selloff in Sterling that was already in progress. After Friday’s Asia Pacific trading session, the US Dollar slowly launched a recovery after Thursday’s lackluster performance. Haven bids poured into the liquid currency after European benchmark stock indexes pared some gains after gapping to the upside.

UK Prime Minister Theresa May, after being grilled by EU heads of state on her ‘Chequers’ exit plan the day before, then announced that they are at an impasse with negotiations with the European Union. She then highlighted that the UK will continue preparing for a no deal. Not only does this make working out a Brexit deal more unlikely by October, but it also increased the chance of a no deal outcome.

Broad weakness in Sterling likely aided to the US Dollar’s upside push as it become relatively more appealing. The Euro also lost ground against the greenback as a result. The anti-risk Swiss Franc saw cautious gains given the currency’s status as the favored European regional haven asset during market and political jitters.

The Canadian Dollar traded mixed after a slightly better-than-expected local inflation report. Canada headline CPI clocked in at 2.8% y/y as expected in August but core CPI rose across the board. The US Dollar halted its ascent after the weakest preliminary estimate for Markit Services PMI since April crossed the wires. The index clocked in at 52.9 versus 55.0 expected and 54.8 in August.

Heading into the end of Friday’s trading session, the S&P 500 pared gains and closed slightly lower for the day at -0.04% after Asian and European shares finished the day broadly higher. With that in mind, APAC shares may trade relatively flat at the beginning of this week. The focus for them will be on risk trends given a lack of economic events. Meanwhile the Australian Dollar could rise to the February trend line next.

GBP/USD Technical Analysis – Uptrend About to End?

GBP/USD prices have clocked in their worst performance in a day since June 2017, falling about 1.53%. Simultaneously, the pair has formed a bearish engulfing reversal pattern with a break under a near-term rising support line. Further confirmation will be needed though that the dominant uptrend from mid-August is about to be overturned. Near-term support is a descending range of former resistance from May.

GBP/USD Daily Chart

GBP/USD Daily Chart

Chart created in TradingView

US Trading Session

GBP/USD Uptrend Hanging By a Thread on Brexit Latest, USD Gains

** All times listed in GMT. See the full economic calendar here

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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