Forex Seasonality, Month by Month
https://fxabsolute.com/stats/GBPUSD.json.
GBP/USD by month
| Month | Avg daily range | Days closing up | Days sampled |
|---|---|---|---|
| January | 98.4 | 47.2% | 125 |
| February | 96.4 | 51.4% | 109 |
| March | 97.2 | 46.7% | 122 |
| April | 95.1 | 49.2% | 126 |
| May | 91.2 | 56.6% | 99 |
| June | 100 | 48% | 102 |
| July | 95.5 | 48.2% | 110 |
| August | 91.7 | 46.3% | 108 |
| September | 107.5 | 43.5% | 108 |
| October | 108.2 | 43.4% | 106 |
| November | 106 | 51.5% | 103 |
| December | 90.8 | 54.5% | 110 |
The "closing up" column is where caution is needed. Each month has around 111 days behind it — about five years' worth — and a share of 43% or 55% at that sample size is not far outside what chance produces. The range column is the more trustworthy half of this table.
The same months, other instruments
| Instrument | Widest month | Range | Narrowest month | Range |
|---|---|---|---|---|
| GBP/USD | October | 108.2 | December | 90.8 |
| EUR/USD | November | 86.3 | December | 67.6 |
| USD/JPY | August | 132.5 | February | 104.7 |
| GBP/JPY | October | 176.8 | February | 143.2 |
| Gold (XAU/USD) | March | 574.6 | August | 265 |
How much to trust five samples
Five Octobers is five observations. A month that looks 15% wider than another may simply have contained one memorable week. The pattern worth acting on is the broad one — a quieter mid-summer and a busier autumn show up across instruments — rather than the exact ordering, which would reshuffle with another two years of data.
FXAbsolute free backtester
Test the finding on the chart—not just on the page
Open FXAbsolute and replay GBP/USD candle by candle. Turn the observation into explicit entry, stop, target and exit rules, then measure the result yourself.
Questions
What is the most volatile month in forex?
In this sample, October for GBP/USD at 108.2 pips a day. With around five observations per month, treat the ordering as indicative.
Which month is quietest?
December, averaging 90.8 pips a day on GBP/USD.
Is forex seasonality reliable?
The range side is reasonably consistent across instruments — quieter mid-summer, busier autumn. The direction side is not: at roughly five years per month, a 43% or 55% up-share is close to what chance alone would produce.