Skip to Content
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
GBPUSD Bounces Off Key Trendline Support from Flash Crash Low - US Market Open

GBPUSD Bounces Off Key Trendline Support from Flash Crash Low - US Market Open

Justin McQueen,

MARKET DEVELOPMENT –GBPUSD Bounces Off Flash Crash Trendline Support

DailyFX Q2 2019 FX Trading Forecasts

USD: Ahead of a key risk events, the greenback is holding onto Friday’s gains following the robust retail sales data. The focus for USD pairs will be on the FOMC meeting on Wednesday and whether the central bank will meet the aggressive dovish market expectations. While there is no move expected in this week’s meeting, the central bank is seen easing by 25bps at the July meeting, according to Fed Funds Futures.

EUR: Amid the sizeable decline in inflation expectations, traders will be paying close attention to commentary from ECB’s Draghi, who may provide fresh policy signals in order to address the plummet in inflation expectations. The Euro is slightly firmer this morning, with 1.12 holding in EURUSD, while EURGBP made another push above 0.8900. Of note, large option expiries between 1.12 and 1.13 could keep EURUSD within a relatively tight range ahead of the Fed meeting.

GBP: Initial weakness in the Pound had been curbed having bounced off the trendline support from the GBP flash crash low, while the slight pullback in the USD index had also aided the currency to test the 1.26 handle. Elsewhere, the BoE are scheduled to release their latest monetary policy outlook, however, while there has been increased hawkish rhetoric from several members, the central bank remains tight lipped by the ongoing Brexit uncertainty.

Source: DailyFX, DTCC

Source: DailyFX, Thomson Reuters

IG Client Sentiment

How to use IG Client Sentiment to Improve Your Trading


  1. Gold Price Outlook Positive, Silver Price Continues to Struggle” by Nick Cawley, Market Analyst
  2. US Dollar Outlook Less Bullish, CHF Shorts Cut, CAD Longs Boosted - COT Report” by Justin McQueen, Market Analyst
  3. DAX 30 & CAC 40 Charts Stabilizing, Looking Higher” by Paul Robinson, Currency Strategist
  4. Using FX To Effectively Trade Global Market Themes at IG” by Tyler Yell, CMT , Forex Trading Instructor

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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