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
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
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators 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 UK and EU have agreed to return to the negotiating table to try to agree a post-#Brexit trade deal. But on Friday, a joint statement said ‘significant divergences’ remained.” - BBC News #GBP
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here:
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • The rising wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move. Incorporate the rising wedge in your trading strategy and learn more here:
  • Both the S&P 500 and $EURUSD will enter the coming week with momentum to their back. What can trip up the rallies? What could keep them going? My overview for the week ahead:
  • After the recent strength of EUR/USD, a period of consolidation is likely ahead of two critical meetings: of the European Central Bank and the European Council. Get your $EURUSD market update from @MartinSEssex here:
GBP/USD Technical Analysis:  Cable Shoots Higher off of Fibonacci Support

GBP/USD Technical Analysis: Cable Shoots Higher off of Fibonacci Support

2015-09-16 17:02:00
James Stanley, Strategist

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/USD Technical Strategy: Flat
  • GBP/USD confirms the higher-low established yesterday with a vigorous bounce off of Fibonacci support.
  • With headline risk looming, traders should take caution; but should USD-weakness become a prominent theme, GBP/USD will likely be one of the more attractive ways to go short USD.

It’s been a rollercoaster type-of-week for UK data already, and price action in GBP/USD has been moving along with the prints. On Tuesday inflation printed flat and GBP sold off on diminished rate-hike hopes; and on Wednesday, wage growth came in at 2.9% annualized to re-fire those hopes for future inflationary pressure. The Sterling reacted near-immediately to these inflationary indications, selling off on Tuesday to find support on the 50% Fibonacci retracement of the ‘secondary move,’ taking the financial collapse low of 1.3500 to the July 2014 high of 1.7190; only to rocket higher on the back of brisk wage growth printed this morning.

Near-term resistance has come in at 1.5500 on the Cable, which is the 50% retracement of the most recent major move, taking the May low in the pair up the June high (and indicated on the below chart with dashed-gray lines). This is a confluent level of resistance as it’s also a ‘major psychological level’ that will often have a tendency to bring new buyers or sellers into the market. Continued movement above 1.5500 confirms the bullish bias in the pair, and targets could be sought at 1.5567 (38.2% of the tertiary move, taking the high from July of 2014 to the low in April of this year), 1.5600 (confluent resistance as a psychological level is 8 pips away from the 38.2% retracement of the most recent major move), and then 1.5730 (23.6% of the most recent major move).

On the other side of the market, short positions could become attractive with continued resistance showing in the 1.5500 neighborhood. With that type of stance, traders could look for breaks back below the 1.5410 area to highlight the potential for down-trend continuation, at which point 1.5345 (50% of the secondary move), 1.5308 (23.6% of the ‘master move’ of the 2007 high at 2.1160 to the financial collapse low of 1.3500), and then 1.5185 (23.6% of the tertiary move).

GBP/USD Technical Analysis:  Cable Shoots Higher off of Fibonacci Support

Written by James Stanley of DailyFX; you can join his distribution list with this link, and you can converse with him over Twitter @JStanleyFX.

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