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
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX 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:
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here:
  • 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:
GBP/USD Changes Gear & Jumps to Multi-Month High -British Pound vs USD Price

GBP/USD Changes Gear & Jumps to Multi-Month High -British Pound vs USD Price

Mahmoud Alkudsi, Analyst

GBP/USD 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 – Uptrend Move Recovery

On October 18, uptrend momentum led GBP/USD to its highest level in nearly five and half months. Later, buyers paused this move, and this kept the price in a sideways pattern for six weeks. Today, Cable resumed bullish price action and broke above 1.3012 printing its highest level in nearly seven months at 1.3063.

This week, the Relative Strength Index (RSI) pointed higher from 57 to 67, highlighting a clear recovery of current uptrend momentum.

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

GBP/USD DAILY PRICE CHART (DEC 1, 2017 – DEC 4, 2019) Zoomed out

GBPUSD daily price chart 04-12-19 zoomed out

GBP/USD DAILY PRICE CHART (Jan 4 – DEC 4, 2019) Zoomed IN

GBP/USD Changes Gear & Jumps to Multi-Month High -British Pound vs USD Price

From the daily chart, we notice yesterday, GBP/USD rallied to a higher trading zone 1.2965 – 1.3048. Today, the price has tested the high end of the zone.

Hence, a close above the high end could embolden more market’s participants to push Cable towards the vicinity of 1.3293-1.3300. Nevertheless, this rally may weaken at the weekly resistance levels and area marked on the chart (zoomed in) as they offer an attractive exit points for some buyers. Others may take profit nearby 1.3150 as discussed in our previous updates.

That said, a close below the low end of current zone would mean buyer’s pullback. This could reverse the price’s direction sending GBPUSD towards the vicinity of 1.2785-75. Further close below 1.2775 might pave the way for sellers to press towards 1.2550. In that scenario, the weekly support levels underscored on the chart should be considered.

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

GBP/USD Four Hour PRICE CHART (Oct 15 – DEC 4, 2019)

GBPUSD four hour price chart 04-12-19

Looking at the four-hour chart, we notice today GBP/USD testes the uptrend line originated form the Nov 8 low 1.2768. The price may provide a bullish signal if closes beyond the trendline for two successive candlesticks.

A break above 1.3072 could lead GBPUSD towards 1.3177. Although, the weekly resistance level underlined on the chart should be kept in focus. On the other hand, a break below 1.2916 could send Cable towards 1.2828. Yet, the weekly support level underlined o 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.