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
Oil - US Crude
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
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • 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:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • 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:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
British Pound Q3 Technical Forecast: Attractive at Lower Levels

British Pound Q3 Technical Forecast: Attractive at Lower Levels

Justin McQueen, Analyst

To read the full equity forecast, including the fundamental outlook, download our new 3Q trading guide from the DailyFX Free Trading Guides!

GBP Facing a Tougher Battle vs USD

Much like the end of Q1, GBP/USD is closing Q2 on a rather sour note. The pair rejected 1.4240-50 yet again, making it look increasingly like a double top. A sharp deceleration in the Pound following a hawkish twist by the Federal Reserve has made positioning in GBP somewhat cleaner with longs liquidated. However, this point is variable for the Pound, particularly with monetary policy tightening and a strong UK economic outlook very much reflected in the price (OIS markets price BoE hike in Q3 22). As such, it would take a move below 1.3800 to gain momentum towards the 200DMA (1.3622), where buyers are likely to sit in waiting from 1.3670 (Mar-Apr double bottom). On the flip side, the pivotal 1.40 handle may act to cap the upside, making it the first target for bulls to overcome. Should Cable break above the even figure the worst of the struggle in the second and third quarters may be past. That said, Q3 is likely to be a much choppier affair with FX markets experiencing heightened sensitivity to economic data. As it stands, risks are more geared towards dips to 1.3670 and 1.3622 rather than a break of the Feb/June peak where we are more likely to meet firm demand.

GBP/USD Daily Chart


EUR/GBP Consolidation Persisting, ECB/BOE Outlook to Provide Direction

In Q2, EUR/GBP recorded its smallest range since Q1 2014 (249pip range) – brilliant for range traders, but a quarter to forget for most. However, if you are hoping for an exciting Q3 in EUR/GBP, you may be left disappointed. Q2 had kicked off with a false break below 0.8500 and the subsequent countertrend rally has meant that the cross has not looked back since. Rising trendline support from two major lows (the 2020 low and 2021 low) looks to keep the 0.8500 handle protected. In turn, bullish interests are likely to struggle to cross the mid-0.86s, leaving EUR/GBP more likely to consolidate a while longer. For sparks, two focal points to take note of over the quarter will be the BoE’s August MPR and ECB’s strategy review, either of which could provide a clearer sense of direction.

EUR/GBP Daily Chart


Make or Break for GBP/JPY

GBP/JPY: A chart to watch in Q3 will be GBP/JPY, which could face a make or break moment in the grander timescale. The multi-decade trendline drawn from the 2007 and 2015 peaks had managed to cap bullish ambitions through the end of the year’s first half. It is possible that with the BoE closer to policy normalisation than the Bank of Japan (BOJ), a hawkish pivot would likely be enough to underpin GBP versus this and low yielders.

GBP/JPY Monthly Chart


To read the full equity forecast, including the fundamental outlook, download our new 3Q trading guide from the DailyFX Free Trading Guides!

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