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
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.
  • The Canadian Dollar remains supported amid elevated crude oil prices. Don’t be surprised if the Bank of Canada disappoints aggressive hawkish expectations. Earnings season is a wildcard. Get your weekly Loonie forecast from @ddubrovskyFX here:
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more 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:
  • 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:
  • The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council. Get your weekly Euro forecast from @MartinSEssex here:
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
Sterling Weekly Technical Outlook: GBPUSD & EURGBP Trends Creaking

Sterling Weekly Technical Outlook: GBPUSD & EURGBP Trends Creaking

Nick Cawley, Strategist

Sterling FX-Pairs Technical Analysis

  • GBPUSD stuck below trend resistance after recent break.
  • EURGBP pushed up through recent downtrend.

Looking for a fundamental perspective on GBP? Check out the Weekly GBP Fundamental Forecast.

Q1 Trading Forecasts for a wide range of Currencies and Commodities, including GBPUSD and EURGBP with our fundamental and technical medium-term technical outlook.

How to Combine Fundamental and Technical Analysis.

GBPUSD remains above the 1.3000 handle but is finding further upside increasingly difficult after the 2019 trendline turned from support to resistance over the last few sessions. A new downtrend is in place off the March 13 high at 1.3383 and this may hold sway over the next few days unless there is a fundamental shift in ongoing Brexit talks. An interesting confluence of technical indicators is on the cards at the start of next week when the 2019 uptrend meets the recent downtrend and 38.2% Fibonacci retracement around the 1.3175 level. If this level continues to weigh on GBPUSD, then support will start between 1.2980 and 1.3000, ahead of the 200-day moving average - currently at 1.2955 - before the 23.6% Fib retracement comes into play at 1.2894.Support may come from the CCI indicator which is starting to flash an oversold signal around the -100 level.

GBPUSD Daily Price Chart (June 2018 – April 5, 2019)


Today’ break of the downtrend from March 21 has left EURGBP in position to move slightly higher but overhead resistance should keep the move in check, all Brexit things being equal. Today’s move higher has also seen the 0.8624 Fibonacci retracement level traded and a close above here would bring in the 0.8671 – 0.8675 level into play before 0.8718 – Fibonacci 38.2% - and the March 21 high at 0.8723 come into play. These levels look likely to hold in the short-term, aided as well by the CCI indicator that is nearing overbought territory. To move lower a close below the recent downtrend will bring into play 0.8518 ahead of 0.8503 and 0.8482 and the multi-month low at 0.8472.

Central Bank Intervention in the Foreign Exchange Market.

EURGBP Daily Price Chart (October 2018 – April 5, 2019)


How Central Banks Impact the Forex Market

DailyFX has a vast amount of resources to help traders make more informed decisions. These include a fully updated Economic Calendar, and a raft of constantly updated Educational and Trading Guides

--- Written by Nick Cawley, Analyst

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

Other Weekly Technical Forecast:

Australian Dollar Forecast - AUD/USD Outlook Mixed, AUD/NZD and GBP/AUD Flirt with New Trends

Oil Forecast - Crude Oil Prices Hit Fresh 5-Month High with Eyes Glued on Dow and Risk

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