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
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -0.02% France 40: -0.09% Wall Street: -0.16% Germany 30: -0.17% FTSE 100: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hDjO8tMcHl
  • EU sources says talks are not going well - BBC
  • The Dow Jones has topped the infamous 30,000 line, an area that has been talked about for several months. It only took a bit of excess liquidity, political breakthrough & hopeful vaccine news to get it there. Get your market update from @HathornSabin here:https://t.co/ySb8vuBCYx https://t.co/1k8N1r76uE
  • 🇺🇸 Corporate Profits QoQ Prel (Q3) Actual: 27.5% Previous: -10.7% https://www.dailyfx.com/economic-calendar#2020-11-25
  • 🇺🇸 GDP Price Index QoQ 2nd Est (Q3) Actual: 3.3% Expected: 3.7% Previous: -1.4% https://www.dailyfx.com/economic-calendar#2020-11-25
  • 🇺🇸 PCE Prices QoQ 2 Est (Q3) Actual: 3.7% Previous: -1.6% https://www.dailyfx.com/economic-calendar#2020-11-25
  • 🇺🇸 Core PCE Prices QoQ 2 Est (Q3) Actual: 3.5% Expected: 3.5% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2020-11-25
  • 🇺🇸 GDP Growth Rate QoQ 2nd Est (Q3) Actual: 33.1% Expected: 33.2% Previous: -31.4% https://www.dailyfx.com/economic-calendar#2020-11-25
  • 🇺🇸 Durable Goods Orders MoM (OCT) Actual: 1.3% Expected: 0.9% Previous: 2.1% https://www.dailyfx.com/economic-calendar#2020-11-25
  • 🇺🇸 Goods Trade Balance Adv (OCT) Actual: $-80.29B Previous: $-79.37B https://www.dailyfx.com/economic-calendar#2020-11-25
Forex: Pound Pairs Top Candidates for Big Friday Moves

Forex: Pound Pairs Top Candidates for Big Friday Moves

2013-10-25 01:03:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

• The 3Q UK GDP reading is due in the London session, opportune timing with GBPUSD threatening a break

• For the USDollar, a significant collection of support is likely to dampen trend development

• Pairs like USDJPY and AUDUSD may not offers the level of breakout risk as the likes of GBPUSD

Sign up for John’s email distribution list, here.

Heading into the final 24 hours of the trading week and with heavy-hitting event risk next week, major technical levels for the dollar and equities may hold. For the Dow Jones FXCM Dollar Index, a collection of support is seen around 10,365 while the S&P 500 is lurking menacingly at record highs. In turn, that may curb the AUDUSD's reversal ambitions and sabotage a USDJPY breakout. Yet, the pound may have a spark to overcome that anchor. The 3Q UK GDP release find GBPUSD in tight congestion, EURGBP setting up the foundation for a reversal and GBPAUD ready to tip the sterling back into a major fundamental trend. Continuation or reversal? Breakout or range? We discuss the scenarios in today's Trading Video.

Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.

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

DISCLOSURES