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
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
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here:
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • What is your forex trading style? Take the quiz and find out:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
GBP/USD Threatening to Drop Below 1.36, UK Retail Sales Drop Unexpectedly

GBP/USD Threatening to Drop Below 1.36, UK Retail Sales Drop Unexpectedly

Daniela Sabin Hathorn, Analyst

GBP Analysis & News

  • GBP/USD threatening to fall below 1.36, Fibonacci support in sight
  • Retail sales drop 2.5% in July, bringing the yearly figure down almost 7 percentage points

The GBP selloff continues this morning with GBP/USD threatening to break below 1.36 after dropping 0.9% on Thursday. The pair has been struggling to keep the momentum going for the past three months after it got rejected for a second time this year at 1.4250 on June 1st. If the 1.36 mark is breached, the first support to come into play is 23.6% Fibonacci retracement (1.3577), which was key at stopping the bearish pressure a month ago. A fall below this area would see a new 6-month low for GBP/USD, with 1.35 likely to be the next goal in sight for sellers.

GBP/USD Daily Chart

GBP/USD Threatening to Drop Below 1.36, UK Retail Sales Drop Unexpectedly

The broader sentiment in the market remains pretty risk-off as concerns about growth and the delta variant become more prominent. Despite vaccine rollouts being pretty advanced in most developed countries, we have no reference as to what impact a new wave of covid may have on the market under this situation, as lockdown measures continue to be implemented in some regions despite high vaccination rates, which has increased concerns about new restrictions once the summer ends.

Elsewhere, UK retail sales data was released this morning, painting a pretty grim picture about consumer spending in the month of July. Month on month sales were down 2.5%, when economists were expecting a modest 0.4% rise. Year on year sales are now at 2.4%, down from 9.2% in June and way below forecasts of 6%.

Learn more about the stock market basics here or download our free trading guides.

--- Written by Daniela Sabin Hathorn, Market Analyst

Follow Daniela on Twitter @HathornSabin

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