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
  • All 9 Dow Jones sectors ended lower, with 90% of the index’s constituents closing in the red. Energy (-2.62%), financials (-2.43%) and consumer discretionary (-1.82%) were among the worst performers, while materials (-0.23%) registered small losses.
  • RT @ZabelinDimitri: What could go wrong?!
  • Heads Up:🇰🇷 Unemployment Rate (APR) due at 23:00 GMT (15min) Previous: 3.9%
  • (Tech Special) British Pound Analysis: GBP/USD, EUR/GBP. GBP/JPY in Focus After Sterling’s Jump $GBPUSD $EURGBP $GBPJPY #GBP #Sterling
  • The British Pound gained aggressively, placing the focus on levels that may send GBP/USD and GBP/JPY lower, with EUR/GBP still open to a turn higher. Will Sterling’s advance continue? Get your $GBP market update from @ddubrovskyFX here:
  • SEC urges caution on funds with exposure to Bitcoin futures, calls Bitcoin a "highly speculative investment" - BBG
  • SEC warns of volatility, lack of regulation in Bitcoin market - BBG #BTC #Bitcoin
  • CDC: Johnson & Johnson vaccine advantages still outweigh the rare risks $JNJ $USD
  • China's Sinovac shot found to be highly effective in real world study - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.18% 🇬🇧GBP: 0.17% 🇪🇺EUR: 0.16% 🇳🇿NZD: 0.04% 🇨🇦CAD: 0.02% 🇨🇭CHF: -0.28% View the performance of all markets via
GBP/USD Technical Analysis: Look for the Pullback to Get Long

GBP/USD Technical Analysis: Look for the Pullback to Get Long

Michael Boutros, Strategist
  • Cable rally testing monthly range highs- constructive above 1.2360
  • Check out our 2Q forecast to find out what’s driving market trends in GBPUSD!
  • Join Michael for Live Weekly Strategy Webinars on Mondays at 13:30GMT


GBP/USD Daily Chart

Earlier this week we noted that cable had, “Cable responded to the 50% retracement of the March advance at 1.2362 this week with the rebound now approaching initial resistance targets. The broader focus remains weighted to the topside while above 1.23 / the lower parallel (blue) with a breach above the monthly open needed to validate a more meaningful reversal targeting confluence resistance at the 200-day moving average at ~1.2630s & key resistance at 1.2675-1.2706.”

The pair is now testing resistance at the monthly open and our outlook remains unchanged heading into the extended holiday weekend. I’d feel comfortable raising bullish invalidation to 1.2363 at this point (now also represents the weekly opening range low).

GBPUSD 240min

GBP/USD 240min Chart

The near-term focus at the open of the week was on a, “break of the 1.2362-1.2460 range with a breach targeting subsequent topside objectives at 1.2519, the monthly open at 1.2540 & 1.2570.” At this point the pair is at risk for near-term exhaustion in momentum after failing to hold above the monthly open and while we could see some pullback from here, from a trading standpoint I’ll favor fading weakness (buying pullbacks) while above 1.2410/22. A breach higher eyes subsequent topside objectives into key resistance at 1.2671-1.2706.

IG Client Sentiment
  • A summary of IG Client Sentiment shows traders are net-short GBPUSD- the ratio stands at -1.21 (45.2% of traders are long)- weak bullish reading
  • Long positions are 13.7% lower than yesterday and 15.5% lower from last week
  • Short positions are 7.9% higher than yesterday and 9.0% higher from last week
  • The recent flip to net-short positioning amid building falling long interest continues to offer a bullish bias for Sterling. Look for a sustained build in short exposure to further strengthen this signal.

What do retail traders’ buy/sell decisions hint about the Sterling trend? Find out here!

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at or Click Here to be added to his email distribution list.

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