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
EUR/USD
Bearish
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
Bullish
GBP/USD
Mixed
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
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.76% Gold: 0.38% Oil - US Crude: 0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/V4XICPZVar
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.80%, while traders in EUR/USD are at opposite extremes with 70.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/LBx0DcXYmu
  • Check out @DailyFX Chief Strategist @JohnKicklighter discuss today’s currency market catalysts driving the dollar index, Euro, Sterling, Yen, and more on today’s Macro Setup with @GuyAdami and @RiskReversal:https://t.co/Dtdx6xBX7q
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.06% FTSE 100: -0.10% Germany 30: -0.26% Wall Street: -0.32% France 40: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cZ9djYlhxo
  • $Nas 100, the test... the zone from 11,570-11,626 was resistance in the $Nasdaq in early Sept & and early Oct. Came back as support last week, held the lows into yday. Now showing potential resistance - but will sellers show up? $QQQ https://t.co/ViENP066Hz https://t.co/h2LYiXGGcW
  • RT @GuyAdami: Profile pictures notwithstanding, this was another worthwhile conversation. Thank you @JohnKicklighter from @DailyFX for join…
  • S&P 500 Price Forecast: SPX Tests Huge Zone at Bull Flag Support https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/10/27/SPX-SPY-ES-Price-Forecast-SPX-Tests-Huge-Zone-at-Bull-Flag-Support.html $SPX $SPY $ES https://t.co/Pu2IgKdY5E
  • ....also, the outlook with a third peak in Covid cases in the US - and spread globally - is going to seriously undermine the sustainability of growth
  • A lot is being made of how remarkable the forecasted 31% increase in US GDP for 3Q would be if we hit the number Thursday, but remember the context. We are coming off a -31.4% plunge. You need an even bigger recovery to get back up to pace starting from a hole https://t.co/oBJKnOVgqu
  • is possible that USD/CAD is trying to carve a higher-low from the September 1 low, but some more work is needed to turn the near-term favorable for taking long-side bets. Get your $USDCAD technical analysis from @PaulRobinsonFX here:https://t.co/qNZxsbcXZO https://t.co/tZbYH8fG2h
British Pound Technical Outlook: GBP/USD, EUR/GBP, GBP/JPY, GBP/AUD

British Pound Technical Outlook: GBP/USD, EUR/GBP, GBP/JPY, GBP/AUD

2020-01-11 22:00:00
Daniel Dubrovsky, Analyst
Share:

British Pound Technical Forecast

  • GBP/USD may set the stage for its next medium-term move ahead
  • EUR/GBP is struggling to commit to the push above key resistance
  • GBP/JPY and GBP/AUD are looking to well-defined rising support

GBP/USD Technical Outlook

The British Pound aimed cautiously lower against the US Dollar this past week as prices look to perhaps achieving a technical breakout ahead. GBP/USD remains wedged in-between falling resistance (blue line on the chart below) and rising support (pink line). Taking out 1.2905 opens the door to reversing the defining uptrend from September. Otherwise, prices may turn higher towards highs from early 2019.

GBP Forecast
GBP Forecast
Recommended by Daniel Dubrovsky
What is the road ahead for the Pound in the first quarter?
Get My Guide

GBP/USD Daily Chart

GBPUSD Daily Price Chart

Chart Created in TradingView

EUR/GBP Technical Outlook

EUR/GBP continued trading sideways as prices refrained from committing to the upside break through falling resistance from August 2019. The pair arguably remains boxed in by resistance at 0.8592 and support at 0.8420. There may be a cautious upside bias upheld by the near-term rising trend line from the middle of December (red line below). A push above 0.8592 exposes the psychological barrier between 0.8787 – 0.8810.

Forupdates on the British Pound this week, including on the election, follow me on twitter here@ddubrovskyFX.

EUR/GBP Daily Chart

EURGBP Daily Price Chart

Chart Created in TradingView

GBP/JPYTechnical Outlook

As GBP/JPY traded sideways off peaks from the end of last year, it is fast approaching what may be a potential rising trend line from September. That places key support at 140.69 to 141.51. A push through this psychological area opens the door to reversing the key uptrend. Otherwise, taking out resistance at 143.78 – 144.13 exposes peaks from December.

Forex for Beginners
Forex for Beginners
Recommended by Daniel Dubrovsky
Learn about trading currencies such as GBP
Get My Guide

GBP/JPY Daily Chart

GBPJPY Daily Price Chart

Chart Created in TradingView

GBP/AUDTechnical Outlook

GBP/AUD turned lower after testing former resistance which is a range between 1.9013 – 1.9094. That left the pair facing rising support from July which is upholding the defining uptrend. Taking it out exposes the December low at 1.8653. In the event of a bounce and breach through resistance, that places the focus on highs from last month (1.9013 – 1.9523).

GBP/AUD Daily Chart

GBPAUD Daily Price Chart

Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES