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
EUR/USD
Bullish
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
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
Bullish
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
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
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • The #Euro may be coiling up for a breakout against the US Dollar as the third quarter of 2020 gets underway. What will drive price action? See our trading guide from @IlyaSpivak to find out here: https://t.co/irBdf8mE7H https://t.co/h5bJePYxGg
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.47% France 40: 0.44% Germany 30: 0.38% US 500: -0.16% Wall Street: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/4oDLGEMu1T
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in US 500 are at opposite extremes with 71.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/m74wuZZKeH
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.42% Gold: -0.03% Oil - US Crude: -0.83% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4cYiwWIL4E
  • What financial job opportunity in which location makes the cut for you? Find out! https://t.co/rrCpMM85Rt https://t.co/4rS0V6FiEm
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.33% 🇦🇺AUD: 0.20% 🇨🇦CAD: -0.00% 🇪🇺EUR: -0.02% 🇯🇵JPY: -0.03% 🇬🇧GBP: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GOEvZ8H1yT
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: 0.33% Germany 30: 0.31% FTSE 100: 0.29% US 500: -0.23% Wall Street: -0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0oIElrc66l
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/afobcd9GRa https://t.co/bn3jPwlxks
  • Arizona virus cases rise 5.1% vs prior 4.7% 7-day average - BBG
  • The US Dollar is entering the third quarter with its safe haven status tested by rising COVID cases and trade pressures. What are the key USD catalysts in these opening weeks of July? Download the 3Q guide from @JohnKicklighter to find out here: https://t.co/z3dYpQYiJa https://t.co/Eh2Pd9YZq7
Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

2019-06-26 08:00:00
Justin McQueen, Analyst
Share:

GBP Analysis and Talking Points

  • GBPUSD| Rangebound as Trend Signals Remain Weak
  • EURGBP | Risks Remain Tilted to Further Gains, 0.9000 within Reach

See the DailyFXFX forecast to learn what will drive the currency throughout the quarter.

GBPUSD | Rangebound as Trend Signals Remain Weak

Rangebound trading persists for GBPUSD and likely to continue doing so with trend signals relatively weak. Topside resistance at 1.2784 (61.8% Fib) has continued to cap upside in the pair, while support has stemmed from the rising trendline from the October 2016 flash crash low. As such, until a decisive break is made on either side, the pair is likely to continue trading in sideways fashion. Momentum indicators (DMIs) in the longer term show a bearish bias with the weekly and monthly timeframes tilted to the downside, therefore suggesting that the outlook in the longer term remains soft.

GBPUSD PRICE CHART: Weekly Time Frame (Aug 2016 – Jun 2019)

Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

Chart by IG

EURGBP | Risks Remain Tilted to Further Gains, 0.9000 within Reach

EURGBP continues to edge higher and having made a break above the 76.4% Fib level (0.8964) a break of the 0.9000 handle is within reach. Momentum indicators on the daily timeframe continue to point towards further gains, however, for this to be realised in the short term, eyes will be on for a close above the 76.4% Fib level. A break above 0.9000 would see the descending trendline from the 2016 peak come into focus, which is situated at 0.9045-50. On the flipside, failure to extend higher with a rejection ahead of the 0.9000 handle, raises the risk of a pullback towards support at 0.8870.

EURGBP Price Chart: Daily-Time Frame (Nov 2018 – Jun 2019)

Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

Chart by IG

--- 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.

DISCLOSURES

News & Analysis at your fingertips.