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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.18% Gold: -0.05% Silver: -0.09% View the performance of all markets via
  • The New Zealand Dollar may resume its broader uptrend, with NZD/USD and NZD/JPY eyeing key rising support. NZD/CAD and NZD/CHF appear to have more room for near-term losses, however.Get your market update from @ddubrovskyFX here:
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.19% 🇳🇿NZD: 0.05% 🇨🇭CHF: 0.04% 🇯🇵JPY: -0.04% 🇬🇧GBP: -0.05% 🇪🇺EUR: -0.08% View the performance of all markets via
  • Heads Up:🇦🇺 RBA Kearns Speech due at 03:25 GMT (15min)
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.26%, while traders in Germany 30 are at opposite extremes with 70.93%. See the summary chart below and full details and charts on DailyFX:
  • Commodities Update: NYM WTI Crude 61.42 (+0.26%), ICE Brent Crude 64.30 (+0.36%), NYM NYH Gasoline 194.58 (-0.31%). [delayed]
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:
  • Precious Metals Update: #Gold 1716.11 (+0.28%), #Aluminum 2,200.00 (-0.52%), and #Copper 9,101.50 (-0.75%) [delayed]
  • RT @KyleR_IG: The seasonally adjusted balance on goods and services surplus increased $3,009m to $10,142m in January. Goods and services…
  • RT @KyleR_IG: The January 2021 seasonally adjusted estimate: * Rose 0.5% month-on-month. * This updates the rise of 0.6% published in t…
Pound Weekly Technical Outlook: GBPUSD Tags Major Trend Support

Pound Weekly Technical Outlook: GBPUSD Tags Major Trend Support

Paul Robinson, Strategist

GBPUSD Technical Outlook:

  • Cable could bounce off 2016-present trend-line
  • At the very least increased volatility looks to be in store

Check out the DailyFX Trading Guides page for intermediate-term forecasts, educational content aimed all experience levels, and more.

GBPUSD could bounce off 2016-present trend-line

Last week brought with it more GBPUSD selling, taking Cable down to an important long-term trend-line. The trend-line began with a bang as it dates back to the October 2016 Sterling flash-crash. This line has another pair of big inflection points with the Jan ’17 and Dec ’18 lows connecting as well.

What makes the line even more solid is that despite it being 2.5 years old, you can connect the lows down to the daily time-frame. There was a brief breach of the line in January when we had another flash-crash situation (YEN, GBP, AUD) but the other lows connect nicely to forge out a strong line of support. It doesn’t mean GBPUSD will bottom, but it does mean traders should be on extra high alert for at the very least increased volatility, if not a big bounce.

If we don’t see a strong turnabout (we got some volatility on Friday) at the trend-line, more probing and a potential break could be in store that leads to the Jan 23 low at 12373. With the right price action, though, a lift off support could quickly see the first swing-level at last week’s high of 12748 hit, followed by the May 21 spike-day high at 12813.

Check out the IG Client Sentiment page to find out how changes in positioning in major markets could signal the next price move.

GBPUSD Daily Chart (Watch price action at major t-line)


GBPUSD Weekly Chart (2016-Present trend-line)


Helpful Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at@PaulRobinsonFX

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