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
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
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex 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:
  • What is your forex trading style? Take the quiz and find out:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI 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:
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
GBP/USD Outlook Mired by Failure to Push Above 50-Day SMA

GBP/USD Outlook Mired by Failure to Push Above 50-Day SMA

David Song, Strategist

British Pound Talking Points

GBP/USD struggles to extend the series of lower highs and lows from earlier this week as it bounces back from a fresh monthly low (1.3791), but the negative slope in the 50-Day SMA (1.3884) casts a bearish outlook for the exchange rate amid the string of failed attempts to push back above the moving average.

Technical Forecast for British Pound: Bearish

Keep in mind, GBP/USD still tracks the broad range from the first half of 2021 as it reversed ahead of the February low (1.3566) during the previous month, and the failed attempt to close below the 1.3620 (78.6% retracement) region may push the exchange rate back towards the top of the yearly range as it attempts to retrace the decline from earlier this month.


Source: Trading View

However, GBP/USD is on the cusp of pushing below the 200-Day SMA (1.3769) for the second time this year as the rebound from the July low (1.3572) unravels, and another break below the moving average may indicate a potential shift in the broader trend as a double top formation takes shape in 2021.

With that said, lack of momentum to push back above the 50-Day SMA (1.3884) undermines the recent rebound in GBP/USD as the indicator develops a negative slope, but the exchange rate may continue to track the broad range from the first half of the year as it appears to have reversed course ahead of the February low (1.3566).

--- Written by David Song, Currency Strategist

Follow me on Twitter at @DavidJSong

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