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.

Free Trading Guides
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
Oil - US Crude
More View more
Real Time News
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
  • What is the top market moving theme for the coming week? I disagree with the majority. '$EURUSD, $GBPUSD and $AUDUSD Top Volatility Candidates With #Fed, #Election, #TradeWar' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/07/EURUSD-GBPUSD-and-AUDUSD-Top-Volatility-Candidates-On-Fed-Election-Trade-War.html?CHID=9&QPID=917719 https://t.co/Q1dbZVN5Us
  • The Australian Dollar was focused on its home country in the past week, but that is likely to change sharply in the days ahead with major global risk events coming up. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/yZz3hCyVMx https://t.co/1xw1JHwd7l
  • The #Euro broke chart resistance, threatening to challenge the bounds of its longer -term downtrend against the $USD. Bulls may find it premature to celebrate however. Get your market update from @IlyaSpivak here: https://t.co/VfR13llYbW https://t.co/LiWTvIygxc
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/jgZMUFVGJB
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
  • #Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the $XAUUSD weekly chart. Get your $gld technical analysis from @MBForex here: https://t.co/RILBGhLAQZ https://t.co/q5znMUlEQA
  • German Bund Yields Update: 2-Year: -0.639% 3-Year: -0.651% 5-Year: -0.548% 7-Year: -0.480% 10-Year: -0.290% 30-Year: 0.228%
  • The $AUD erased half of November’s down move in a mere two days but the dominant trend bias continues to favor weakness ahead. Get your market update from @IlyaSpivak here:https://t.co/ShYksfNXyS https://t.co/OVhyNgLRn5
  • We were almost there, but the $SPX fell short of a >1.0% daily change. That raises the tally to 39 consecutive trading days without a climb or fall of even a moderate measure https://t.co/ibt82dBGmh
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

2019-06-17 12:35:00
Justin McQueen, Analyst

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.

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

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.

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

Source: DailyFX, DTCC

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

Source: DailyFX, Thomson Reuters

IG Client Sentiment

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

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 Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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


News & Analysis at your fingertips.