Skip to content
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
More View more
Forex Strategy Video: GBPUSD and GBPJPY Will Look for Trend on BoE Minutes

Forex Strategy Video: GBPUSD and GBPJPY Will Look for Trend on BoE Minutes

John Kicklighter, Chief Strategist

Talking Points:

• There are a range of trend and breakout opportunities across the sterling-based pairs

• The Pound has been pushed sharply higher in recent months on aggressive rate forecasting

• Should the BoE corroborate or crush the ambitious rate outlook, the sterling can see heavy volatility

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

GBPUSD has been pushed to the edge of a multi-year congestion pattern on the back of a dollar tumble. The next push for break or reversal, though, likely rests with the pound. The sterling has surged in recent months on the backdrop of a sharp upgrade in rate forecasts. Despite the Bank of England's (BoE) forward guidance for rates to hold at their current, exceptionally low levels until 2016; the market has moved to price in a more timely upgrade to yields. These expectations have growth somewhat extreme - opening the market to a speculative gap from current conditions. Should the upcoming BoE minutes confirm or deny these forecasts, the sterling stands to experience extreme swings.

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.