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.

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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.06% Silver: -0.11% Gold: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/jXEy4TGAZL
  • GBP/USD IG Client Sentiment: Our data shows traders are now at their most net-long GBP/USD since Apr 12 when GBP/USD traded near 1.37. A contrarian view of crowd sentiment points to GBP/USD weakness. https://www.dailyfx.com/sentiment https://t.co/oqggIco9Rb
  • USD/CAD breaks out of its multi-week trading range. Client sentiment data shows traders cutting back their long positions. Get your $USDCAD market update from @nickcawley1 here:https://t.co/0jaBKT1c1p https://t.co/tcRug98zDc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 84.90%, while traders in France 40 are at opposite extremes with 70.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/VjYBuNfKGv
  • $XAUUSD - Big Spot here for #Gold . . . https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2021/06/10/Gold-Price-Outlook-Gold-Pops-on-Hot-Inflation--Bulls-Eyes-Resistance-GLD-Technical-Forecast-MBTS6.html https://t.co/BPcJ6OUiuM
  • RT @ZabelinDimitri: What are markets looking at next ahead now that we've got the Fed rate decision behind us? Take a look⬇️
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.23% FTSE 100: 0.20% France 40: 0.19% US 500: -0.98% Wall Street: -1.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PmrtAwxR49
  • $XAUUSD - Big Spot here for #Gold . . . https://t.co/V6vp7zTZ04 https://t.co/9nPPFBM5Nd
  • The FTSE is turning lower from big spot of resistance. Testing channel structure off the February low. Get your market update from @PaulRobinsonFX here:https://t.co/2fEB1tJ5Zh https://t.co/7NrWwY9jBl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 84.57%, while traders in France 40 are at opposite extremes with 70.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Gb5NeVBsGS
GBP Technical Analysis Overview: GBP/USD, EUR/GBP

GBP Technical Analysis Overview: GBP/USD, EUR/GBP

Justin McQueen, Analyst

GBP Analysis and Talking Points

  • GBP/USD| Beware of Brexit Induced Volatility
  • EUR/GBP | Lacking Clear Directional Bias Since 200DMA Bounce

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

GBP/USD | Beware of Brexit Induced Volatility

Momentum indicators on the daily time frame remain tilted to the downside, however, beware of Brexit induced volatility, which will leave the pair vulnerable to sudden spikes. The pair has found support this morning from the 50DMA situated at 1.2253, however, scepticism over Boris Johnson’s Brexit plan could see this level tested once more and opening the door for a move towards the 1.22 handle. That said, on topside the weekly high (1.2346) has so far capped upside in the pair this week.

GBP/USD PRICE CHART: Daily Time Frame (Jun 2019 – Oct 2019)

GBP Technical Analysis Overview: GBP/USD, EUR/GBP

Chart by IG

EUR/GBP | Lacking Clear Directional Bias Since 200DMA Bounce

EUR/GBP has continued to edge higher, reclaiming the 0.8900 handle following the bounce back from the 200DMA (0.8832). However, with that said, momentum indicators are somewhat mixed thus lacking a clear directional bias, which has also been reaffirmed by the dip in trend signals. On the topside, resistance is situated at 0.8969, which marks the 100DMA. As a reminder, given the heightened headline risk surrounding Brexit with Boris Johnson set to unveil his Brexit plans at the Conservative party conference, EUR/GBP is likely to experience a bout of volatility, as such, a directional bias may be found after the event.

EUR/GBP Price Chart: Daily-Time Frame (Feb 2019Oct 2019)

GBP Technical Analysis Overview: GBP/USD, EUR/GBP

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