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.

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
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
Mixed
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
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/Gd6eIbE1mb
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/Jf96VhFDOp
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/Rjfdv8jLQV
  • 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: https://t.co/7t4BzmLg8w https://t.co/a6qsFOcPUl
  • Build your USD/JPY trading strategy by honing your trading skills. Get your free insight here: https://t.co/hgVq7LwTSH https://t.co/xXZYbWqEwP
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/HUaCpOPird
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/Hx1251BmAZ
  • @ddubrovskyFX Congrats Daniel!
  • After a week of roaring economic updates that failed to gain meaningful market traction; I am look to US inflation/rates, US-China trade relations and earnings in the week ahead to charge $SPX and $DXY. My outlook for the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/10/SP-500-Outlook-Carries-Risk-Trends-Dollar-Event-Heavy-on-USDJPY-USDCNH.html https://t.co/F9XkNl8Ks4
  • The Indian Rupee rose as the Nifty 50 slightly fell after the RBI left benchmark rates unchanged despite recent weakening inflation and a massive fiscal spending plan. Will USD/INR bounce? Find out from @ddubrovskyFX here:https://t.co/SwufKMOwfQ https://t.co/rfn4KRGUgl
GBP Technical Analysis Overview: GBP/USD, EUR/GBP Momentum Stalling

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

Justin McQueen, Analyst

GBP Analysis and Talking Points

  • GBP/USD| Upside to be Capped at 1.3000 in Short Term
  • EUR/GBP | Downside Momentum Stalling as RSI Confirms Bullish Divergence

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

GBP/USD | Upside to be Capped at 1.3000 in Short Term

Price action in the Pound remains predominantly driven by politics. Today’s session is likely to focus on the TV debate between Boris Johnson and Jeremy Corbyn at 2000GMT with a poll to be released from 2100GMT. As it stands, overnight ATM option is pricing in an implied move of 46pips (+/-) for GBP/USD. Momentum indicators continue to tilt towards upside in the pair, however, while the trend intensity has increased, the bullish bias signalled by momentum indicators has eased slightly as GBP/USD stalls at the 1.3000 handle. Of note, over 3bln worth of vanilla options are expiring this week at 1.3000, consequently, upside may be somewhat limited to the 1.3000 handle. Alongside this, we continue to expect GBP/USD to remain rangebound in the run up to the election.

GBP/USD PRICE CHART: Daily Time Frame (Nov 2018 –Nov 2019)

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

EUR/GBP | Downside Momentum Stalling as RSI Confirms Bullish Divergence

EUR/GBP has continued to head lower, reaching its lowest level since May. However, while momentum indicators remain bearish, this has eased slightly, which in turn has seen the cross begin to bottom out. Alongside this, the RSI is signalling a bullish divergence and thus raises the risk of a potential uptick in the cross. That said, Euro notable buying remains elusive, given that the Eurozone economy remains weak, as such, market participants will be looking towards the preliminary PMI figures on Friday in order to gauge whether the slowdown is starting to show signs of petering out.

EUR/GBP Price Chart: Daily-Time Frame (Nov 2017Nov 2019)

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

--- 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