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
Wall Street
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
  • Airline stocks retracing losses, some already in positive territory, despite the large sell-off in the market. News that the US will overhaul its COVID-19 travel rules and lift some restrictions are good news for the airline industry $JETS $UAL $AAL $ALK
  • The S&P 500 have taken a clear dive to start the week and fear of full risk aversion is gaining traction. DailyFX's @JohnKicklighter discusses what to expect in the markets this week!
  • $USD still pulling back from resistance. 93.43 was the Q1 swing high, still playing a role in $DXY support potential around prior res, ~93.20
  • despite the theatrics elsewhere, $Gold has held last week's low through this week's open, at least so far even getting a bump higher. resistance potential 1769-1775 $GC $GLD
  • While there is no doubt a risk aversion wave at play now, it can still burn itself out with years of complacency and the expectations of Fed on Wed (anticipation can take the wind out of sails). But if/when the Dollar takes off pre-FOMC, that would be.
  • Bitcoin probing Fibo support zone ~42,588 #Bitcoin $BTCUSD
  • EUR/USD extends the series of lower highs and lows from the previous week as European Central Bank (ECB) officials defend the dovish forward guidance for monetary policy. Get your $EURUSD market update from @DavidJSong here:
  • There are reasonable disputes over where technical boundaries exist from people with different views, charts, time frames, etc. I think this $SPX gap down and drive below the 50-day SMA clearly qualifies as a break
  • Some people like a quiet market that edges higher consistently day in and day out. I am not one of those people. I like volatility
  • 🇺🇸 NAHB Housing Market Index (SEP) Actual: 76 Expected: 74 Previous: 75
GBP/USD Held Above 1.4400 Ahead of US NFPs, Wages in Focus

GBP/USD Held Above 1.4400 Ahead of US NFPs, Wages in Focus

Oded Shimoni, Junior Currency Analyst

Talking Points:

- GBP/USD currently trades above the 1.4400 level, with more support below

- US Non-farm Payrolls in focus as the market gears for possible volatility

- GSI is a powerful big data indicator that can help you determine whether short-term trends will continue or reverse

The GBP/USD currently trades above 1.4400 (at the time this report was written) as the pair seems to trade in anticipation for the US Non-farm Payrolls data later today. We look to find short term trading opportunities using the Grid Sight Index (GSI) indicator, as technical levels might prove influential throughout the day.

GBP/USD 5-Min GSI Chart: June 3, 2016

GBP/USD Held Above 1.4400 Ahead of US NFPs, Wages in Focus

GSI is a powerful big data indicator that can give you a look at the market in a way that's never been possible before, analyzing millions of historical prices in real time. By matching events in the past, GSI describes how often the price moved in a certain direction.

You can learn more about the GSI here.

A common way to use GSI is to help you fade tops and bottoms, and trade breakouts. That’s why traders may want to use the GSI indicator when price reaches specific pre-determined levels, and fit a strategy in accordance with those levels that might offer a proper way to define risk.

You can use the DailyFX Support & Resistance tool to help determine key levels and volatility for a specific currency pair.

GBP/USD Held Above 1.4400 Ahead of US NFPs, Wages in Focus

We use volatility measures as a way to better fit our strategy to market conditions. GBP/USD implied 1-month volatility measures has skyrocketed to the highest levels since February 2009 in anticipation of the EU referendum vote, which is set to take place June 23. The British Pound seems to generate significant responses on fluctuations of “Brexit” polls, as the price appears to be moving sideways on a higher time frame perspective.

Those volatility bursts may present ample opportunities for the shorter term oriented trader, but with the US Non-farm Payrolls data later today, the pair seems to be treading water in anticipation, which could signal that technical levels are likely to hold. With that being said, volatility might pick up following the event, which could imply that breakout trades may be preferable later today.

GBP/USD 30-Min Chart: June 3, 2016

GBP/USD Held Above 1.4400 Ahead of US NFPs, Wages in Focus

The GBP/USD is trading near support at 1.4400. Other levels of interest on a move lower may be 1.4371, followed by 1.4339. The 1.4300 level sits below with other short term support scattered around that area.

Immediate Resistance might be found at 1.4451, followed by 1.4471, and a very significant resistance zone around 1.4500. If the price breaks above that zone, the pair may find further resistance at around 1.4550.

When price reaches those levels, short term traders might use the GSI to view how prices reacted in the past given a certain momentum pattern, and see the distribution of historical outcomes in which the price reversed or continued in the same direction.

As mentioned before, caution may be warranted around the major event risk today.

GBP/USD Held Above 1.4400 Ahead of US NFPs, Wages in Focus

Click Here for the DailyFX Calendar

The US Non-farm Payrolls take center stage in early trade. The headline figure is expected to show 160k increase in payrolls, and the unemployment figure is expected to tick down to 4.9%.

With that said, Average Hourly Earnings might have higher significance today. In the context Fed rate hike bets, and with inflation seemingly the missing piece to further tightening, higher than expected wage figures might suggest inflation pressures are in the pipeline. In turn, this may send the US Dollar higher.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing that about 59.3% of traders are long the GBP/USD at the time of writing. We use the SSI as a contrarian indicator, which implies further weakness ahead for the pair.

You can find more info about the DailyFX SSI indicator here

--- Written by Oded Shimoni, DailyFX Research

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