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
More View more
Real Time News
  • Germany will not be able to stick to debts limits in constitution for years - Handelsblatt
  • The FTSE 100 has extended its pullback from trendline resistance (stemming from the 2009 low) with the index shedding 0.6% for the week. Get your #FTSE market update from @JMcQueenFX here:
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Oil - US Crude: -0.02% Silver: -0.48% View the performance of all markets via
  • WTI Crude futures settle up 0.96%, at $52.77 - BBG
  • I'm not usually big with head and shoulders patterns but there are conflicting signals in $USD atm. 1st chart here is on h4 and it's a h&s with neckline ~ 90. 2nd chart is on h8, and its an inverse h&s with neckline ~ 91. Given calendar, a break this week can def happen.
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.31%. See the summary chart below and full details and charts on DailyFX:
  • Today was the 'quiet' session of the week with only a few high profile indicators on tap. The high profile fundamental themes start up in earnest tomorrow (including the IMF's WEO). We will see how speculative charge for the likes of GME competes with global growth forecasts
  • US Dollar Head and Shoulders Pattern, Focus on USD/CAD, NZD/USD
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.30% Germany 30: 0.29% France 40: 0.27% US 500: 0.17% Wall Street: -0.24% View the performance of all markets via
  • $AUDJPY fell to an intraday low around 79.77, hitting its lowest level since early last week. The pair has since rebounded to trade back above 80.00. $AUD $JPY
GBP/USD Price Recovery is at Stake – Levels & Thresholds to Keep in Focus

GBP/USD Price Recovery is at Stake – Levels & Thresholds to Keep in Focus

Mahmoud Alkudsi, Analyst

GBP/USD Price Technical Forecast

  • GBP/USD recovery on hold this week
  • Reversal signal on GBP vs USD chart

GBP/USD - Corrects Higher

Last week, British Pound recovered some of its recent losses against US Dollar. On Friday, GBP/USD rallied to 1.2485 then closed in the green with 6.8% gain. This week, the recovery has slowed down yet the pair remained above 1.2200 handle.

The Relative Strength Index (RSI) abandoned the oversold territory and crossed above 50 reflecting the end of downtrend move and a possible start of uptrend move.

GBP/USD DAILY PRICE CHART (Nov 14, 2018 – April 1, 2020) Zoomed out

GBPUSD daily price chart 01-04-20 Zoomed out
Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

GBP/USD DAILY PRICE CHART (JAN 30– April 1, 2020) Zoomed IN

GBPUSD daily price chart 01-04-20 Zoomed in

From the daily chart, we noticed that on March 19 GBP/USD tumbled to 1.1411- its lowest level in thirty-five years. Later on, bears showed reluctance, and this led the market to surge and remain in current trading zone 1.2364 – 1.2589 .This week, bears failed twice to press towards the lower trading zone.

A close above the high end of the zone may encourage bulls to push towards 1.2830. Further close above this level could mean more bullishness towards 1.3048. In that scenario, the weekly resistance levels underscored on the chart (zoomed in) should be kept in focus.

On the other hand, any close below the low end of the zone could lead GBPUSD towards 1.2195. Further close below that level might send the price even lower towards 1.1958. That said, the daily and weekly levels marked on the chart should be monitored.

Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

GBP/USD Four Hour PRICE CHART (Mar 7 – April 1, 2020)

GBPUSD four hour price chart 01-04-20

Looking at the four-hour chart, we noticed that on Wednesday GBP/USD broke above the March 20 high at 1.1935 and started uptrend move creating higher highs with higher lows.

However, this week Cable paused its uptrend move and developed a double top (reversal pattern). Thus, any violation of the neckline located at 1.2244 could send the price towards 1.2000 threshold.

A break below 1.2150 would be considered as an additional bearish signal. This may increase the likelihood for GBPUSD to test 1.2000 threshold. Although, the daily support level underlined on the chart should be considered. On the other hand, any break above the second top of the double top pattern would negate this formation. Thus, a break above 1.2475 may cause a rally towards 1.2558. Nevertheless, the weekly resistance level printed on the chart should be watched closely.

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

GBP Forecast
GBP Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q1 British Pound Forecast
Get My Guide

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.