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
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Heads Up:🇬🇧 BoE Vlieghe Speech due at 09:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-20
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/KCHeNfayki
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/q8nG7unK17
  • Just posted: a fascinating chat with my @DailyFX colleague @HathornSabin on #gold, $USD, $MXN and more https://t.co/vKdwKJZuEF
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.83%, while traders in EUR/USD are at opposite extremes with 67.62%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sf61r9rewm
  • Gold Prices May Fall Further as US Fiscal Stimulus Hopes Fizzle - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/10/20/Gold-Prices-May-Fall-Further-as-US-Fiscal-Stimulus-Hopes-Fizzle.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #XAUUSD #gold #FiscalPolicy #stimulus https://t.co/fS6r9kPXPY
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/5DC2kgetXj
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: -0.15% Gold: -0.20% Oil - US Crude: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yDIGCBjieN
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.04% 🇪🇺EUR: -0.05% 🇨🇦CAD: -0.08% 🇬🇧GBP: -0.18% 🇦🇺AUD: -0.47% 🇳🇿NZD: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JIAsnaWcPz
  • US Dollar Index Trades in Price Channel Ahead of US Stimulus Deadline - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/10/20/US-Dollar-Index-Trades-in-Price-Channel-Ahead-of-US-Stimulus-Deadline.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $USD $DXY https://t.co/FAi3oLk9Xu
Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

2019-06-26 08:00:00
Justin McQueen, Analyst
Share:

GBP Analysis and Talking Points

  • GBPUSD| Rangebound as Trend Signals Remain Weak
  • EURGBP | Risks Remain Tilted to Further Gains, 0.9000 within Reach

See the DailyFXFX forecast to learn what will drive the currency throughout the quarter.

GBPUSD | Rangebound as Trend Signals Remain Weak

Rangebound trading persists for GBPUSD and likely to continue doing so with trend signals relatively weak. Topside resistance at 1.2784 (61.8% Fib) has continued to cap upside in the pair, while support has stemmed from the rising trendline from the October 2016 flash crash low. As such, until a decisive break is made on either side, the pair is likely to continue trading in sideways fashion. Momentum indicators (DMIs) in the longer term show a bearish bias with the weekly and monthly timeframes tilted to the downside, therefore suggesting that the outlook in the longer term remains soft.

GBPUSD PRICE CHART: Weekly Time Frame (Aug 2016 – Jun 2019)

Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

Chart by IG

EURGBP | Risks Remain Tilted to Further Gains, 0.9000 within Reach

EURGBP continues to edge higher and having made a break above the 76.4% Fib level (0.8964) a break of the 0.9000 handle is within reach. Momentum indicators on the daily timeframe continue to point towards further gains, however, for this to be realised in the short term, eyes will be on for a close above the 76.4% Fib level. A break above 0.9000 would see the descending trendline from the 2016 peak come into focus, which is situated at 0.9045-50. On the flipside, failure to extend higher with a rejection ahead of the 0.9000 handle, raises the risk of a pullback towards support at 0.8870.

EURGBP Price Chart: Daily-Time Frame (Nov 2018 – Jun 2019)

Sterling (GBP) Technical Analysis Overview: GBPUSD, EURGBP

Chart by IG

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES