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
  • 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:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
British Pound (GBP) Price Outlook: GBP/USD Rally May Run Out of Steam

British Pound (GBP) Price Outlook: GBP/USD Rally May Run Out of Steam

Martin Essex, MSTA, Analyst

GBP price, news and analysis:

  • The rally so far this week in GBP/USD has been due entirely to the weakness of the US Dollar as the spread of the coronavirus delta variant in the US has led to doubts about whether the Federal Reserve will still taper its monetary largesse.
  • Now it seems likely that the advance in GBP/USD will soon reverse and that the downward trend in place since late July will resume.

GBP/USD at risk of falling

GBP/USD has benefited so far this week from the slide in the safe-haven US Dollar caused by an increase in risk appetite as the spread of the delta variant of Covid-19 in the US has led to speculation that the Federal Reserve may delay tapering its monetary stimulus.

The Fed had been expected at the very least hint to hint at a tightening of its monetary policy at the Jackson Hole symposium that starts this Thursday but that is now in doubt even though Pfizer’s Covid-19 vaccine has received full approval from the US Food and Drug Administration – a move that should counter the vaccine’s spread and thereby have little impact on the Fed’s decision.

GBP/USD Price Chart, One Hour Timeframe (July 29 – August 24, 2021)

Latest GBP/USD price chart.

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

Now it seems likely that GBP/USD will resume the downward trend that has been in place since July 29 and is still intact despite the rally that began around midday London time Friday. There is no first-tier UK data due this week so little to disturb traders focused on the Jackson Hole gathering, which will now be virtual because of the spread of the delta variant.

--- 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.