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.

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
Subscribe
Please try again
EUR/USD
Mixed
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
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • #USDZAR looking incredibly interesting after breaching the neckline of a Double Top pattern A short-term bounce could be at hand but if 14.50 remains intact, a more extended push lower seems likely in the coming weeks $USDZAR https://t.co/1rHgmX4zyB
  • RT @KyleR_IG: "Retail sales rose 1.4 per cent in March" https://t.co/aM9vXo5s49 #ausbiz
  • 🇦🇺 Retail Sales MoM Prel (MAR) Actual: 1.4% Expected: 1% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-04-21
  • 🇦🇺 Westpac Leading Index MoM (MAR) Actual: 0.38% Previous: 0.16% https://www.dailyfx.com/economic-calendar#2021-04-21
  • Heads Up:🇦🇺 Westpac Leading Index MoM (MAR) due at 01:30 GMT (15min) Actual: 0.38% Previous: 0.16% https://www.dailyfx.com/economic-calendar#2021-04-21
  • Nasdaq 100 Outlook and Netflix Earnings Miss May Cast a Shadow on Hang Seng and ASX 200 https://www.dailyfx.com/forex/market_alert/2021/04/21/Nasdaq-100-Outlook-and-Netflix-Earnings-Miss-May-Cast-a-Shadow-on-Hang-Seng-and-ASX-200-.html https://t.co/6FEItZRKwD
  • Heads Up:🇦🇺 Westpac Leading Index MoM (MAR) due at 01:30 GMT (15min) Actual: 0.38% Previous: 0.17% https://www.dailyfx.com/economic-calendar#2021-04-21
  • Heads Up:🇦🇺 Retail Sales MoM Prel (MAR) due at 01:30 GMT (15min) Expected: 1% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-04-21
  • The US Dollar is looking increasingly vulnerable to ASEAN FX, with USD/SGD and USD/THB breaching key support. USD/IDR is eyeing a Rising Wedge, USD/PHP may face February lows. Get your market update from @ddubrovskyFX here:https://t.co/7rSQzu0sx9 https://t.co/rlQpQDURMm
  • The Australian Dollar’s losses against its major counterparts may prove short-lived, as a series of bullish technical setups begin to take shape on multiple AUD crosses. Get your $AUD market update from @DanielGMoss here:https://t.co/kRtix2AW32 https://t.co/giuKDqh1Zi
British Pound (GBP) Latest: GBP/AUD, GBP/NZD, GBP/CAD Under Pressure

British Pound (GBP) Latest: GBP/AUD, GBP/NZD, GBP/CAD Under Pressure

Martin Essex, MSTA, Analyst

GBP price, news and analysis:

  • The British Pound is beginning to lose ground against the commodity currencies: the Australian Dollar, the New Zealand Dollar and the Canadian Dollar, suggesting that its recent broad strength may be drawing to a close near-term.
  • Longer-term, though, the outlook for Sterling remains healthy and a near-term correction would not harm the longer-term outlook.
Advertisement

GBP easing back

GBP/AUD, GBP/NZD and GBP/CAD are all losing ground Thursday, perhaps warning of a more general near-term setback for the British Pound. That, however, would likely do little to halt the broad advance in the currency once any correction is over. As can be seen in the chart below, GBP/AUD has eased to its lowest level for a month as AUD benefits from the prospect of a recovery in the global economy from the slump caused by the coronavirus pandemic. However, the January 20 low at 1.7584 should provide some near-term support if the slide in the pair continues.

GBP/AUD Price Chart, One-Hour Timeframe (January 22 – February 25, 2021)

Latest GBP/AUD price chart.

Source: IG (You can click on it for a larger image)

GBP Forecast
GBP Forecast
Recommended by Martin Essex, MSTA
Download our Q1 GBP forecast
Get My Guide

Similar patterns can be seen in the GBP/NZD and GBP/CAD charts below, with 1.8862 the key support level for GBP/NZD, the low touched on February 4, and 1.7350 the support level for GBP/CAD, the low touched by the pair the same day.

GBP/NZD Price Chart, One-Hour Timeframe (January 22 – February 25, 2021)

Latest GBP/NZD price chart.

Source: IG

GBP/CAD Price Chart, One-Hour Timeframe (January 22 – February 25, 2021)

Latest GBP/CAD price chart.

Source: IG

From a fundamental perspective, the next big event for Sterling traders will be the UK Budget next Wednesday, when Chancellor of the Exchequer Rishi Sunak is reported to be announcing giveaways to help the UK economy bounce back post-lockdown. Note, though, that Budgets rarely have a major impact on Sterling.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Martin Essex, MSTA
Trading Forex News: The Strategy
Get My Guide

We look at currencies regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

--- Written by Martin Essex, Analyst

Feel free to contact me on Twitter @MartinSEssex

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

DISCLOSURES