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
Subscribe
Please try again
EUR/USD
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
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
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/WeLInepZiD https://t.co/7B0KI8HehW
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM73cHA https://t.co/vGW5BygTXU
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/xngExEdFdu https://t.co/kqpJ6oGXgt
  • 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: https://t.co/F4dXbUzU3o https://t.co/G0ZWWVtSrZ
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfIZNKr https://t.co/5js6tWk5bY
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/Z71MZEIJWC https://t.co/YAr1kN4eKd
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zqmIM https://t.co/72HRMZlKUn
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzvWnm https://t.co/j5Zjn5zY0D
  • (Weekly Fundy) Australian Dollar Forecast: AUD/USD May Rise as Dovish Fed Calms Yields, US Dollar $AUDUSD #AUD #USD #Bonds #Fed https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/04/17/Australian-Dollar-Forecast-AUDUSD-May-Rise-as-Dovish-Fed-Calms-Yields-US-Dollar.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gQDr5fBosb
  • The Japanese Yen and Swiss Franc may outperform the US Dollar amid rising long bets in USD/JPY and USD/CHF. But, broader uptrends since January could still remain in play. Get your market update from @ddubrovskyFX here:https://t.co/Qpeuuyrxhj https://t.co/EfgW9aj7wo
GBP/USD Develops a Bullish Rectangle – British Pound vs USD Price Forecast

GBP/USD Develops a Bullish Rectangle – British Pound vs USD Price Forecast

Mahmoud Alkudsi, Analyst

GBP/USD Price Outlook

Download for free our latest Q4 trading guides to help you build confidence when you trade on JPY, USD and other main currencies

GBP/USD Price – Locked in The Range

On Oct 21, GBP/USD rallied its highest level in over five months at 1.3012. Later, the price settled below 1.3000 handle then stuck in a sideways pattern creating higher highs with lower lows.

The Relative Strength Index (RSI) remained flat above 50, reflecting a stalled uptrend impulse.

Just getting started?See our Beginners’ Guide for FX traders

GBP/USD DAILY PRICE CHART (Nov 1, 2017 – Nov 20, 2019) Zoomed out

GBPUSD price daily chart 20-11-19 Zoomed out

GBP/USD DAILY PRICE CHART (June 1 – Nov 7, 2019) Zoomed IN

GBPUSD price daily chart 20-11-19 Zoomed in

From the daily chart, we notice on Monday GBP/USD tested the high end of current trading zone 1.2785 – 1.2965. The price failed for the third time to rally to the higher trading zone as buyers took profit at this stage. This could weaken current momentum and press the pair towards the low end of the zone.

A close below the low end could break the deadlock and motivate sellers to lead GBPUSD towards 1.2550. Yet, the weekly support levels underlined on the chart should be watched closely.

On the flip -side, we notice at present GBPUSD creates a bullish rectangle pattern.Therefore, if the price closes on the opposite side, i.e. above the high end of the zone, this suggests buyers may push towards 1.3150. Although, the weekly resistance area and levels marked on the chart should be kept in focus.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

GBP/USD Four Hour PRICE CHART (Oct 1 – Nov 7, 2019)

GBPUSD price four hour chart 20-11-19

Looking at the four-hour chart, we notice today GBP/USD has tested the uptrend line originated form the Nov 8 Low at 1.2768.

Thus, a break below 1.2866 could send GBPUSD towards the low end of current trading zone discussed above on the daily chart. Nevertheless, the daily support level underscored on the chart should be considered. In turn, a break above 1.2989 could lead GBPUSD towards 1.3028. However, the weekly resistance level underlined on the chart would be worth monitoring

See the chart to find out more about key levels GBPUSD would encounter in a further bearish /bullish scenario.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES