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.

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
GBP/USD
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
More View more
Real Time News
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/hymrumanUY
  • 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: https://t.co/kODPAfs2Iz https://t.co/6dAqxsVfxJ
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here: https://t.co/Xu3ZT7EtrW https://t.co/5VHKn52MaA
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHq4Np https://t.co/mf9rsmIvaW
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/mYWO0Eta0P
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here: https://t.co/ZvEMQuFjSs https://t.co/rMmq9cehnY
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/tm4k3IVzHr
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/FFMy5O9YoY
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/jZHcyAZ5SU
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today: https://t.co/XtydfV5wS6 https://t.co/Iw9haaHAnn
FTSE 100 May Be On Verge Of Trading Higher

FTSE 100 May Be On Verge Of Trading Higher

Alejandro Zambrano, Market Analyst

Talking Points

  • The FTSE 100 has remained rangebound since Friday’s better than expected Non-Farm Payrolls, and now looks ready to trade higher on the back of this.
  • We will continue to watch the high of 6011, as a break to this level may suggest that the trend has turned bullish
  • Chinese trade data published overnight adds a bit more of a bullish feel to the market

Losing Money Trading? This Might Be Why

The FTSE 100 has stabilised after last week’s slide and is now trading below its Non-Farm Payrolls’ high of 6011. A break to this level may trigger a rally to the January 5 high of 6164, with this week’s low of 5847 potentially turning into a multi-day low. We note that the NFP outcome was 293K vs. 200K forecasted by Bloomberg, and that the FTSE 100 has so far not taken this into account. For the trend to turn bearish, a break to this week’s low of 5847 is needed.

Chinese trade balance published overnight rose to 382.05bn CNY vs. the 338.80 expected, while exports rose by 2.3% YoY (CNY) vs. a -4.1% expected. Imports declined by -4% YoY vs. the -7.9% expected. This adds a bit of a bullish feel to the market with some economists stating that it’s the last few months of softer Chinese Yuan which is spurring the better numbers, while others are maintaining that it’s too early to know if this momentum will be able to be sustained.

Data on tap this morning is E.U. Industrial production which is expected to rise by 1.3% YoY (WDA). A better than expected reading may add to the bullish sentiment. The Fed’s Beige Book is also on tap this evening. See our economic calendar.

FTSE 100 | FXCM: UK100

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

Learn more about trading and join a London Seminar

To be added to Alejandro’s e-mail distribution list, please fill out this form

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

DISCLOSURES