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.

Free Trading Guides
EUR/USD
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
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
Oil - US Crude
Bullish
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
Bitcoin
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.09%, while traders in France 40 are at opposite extremes with 80.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/75lO0HM9cG
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.22% Gold: 0.32% Silver: -0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rO9w52PEOW
  • Heads Up:🇪🇺 EUR Euro-Zone Consumer Confidence (FEB A) due at 15:00 GMT (15min), Actual: N/A Expected: -8.2 Previous: -8.1 https://www.dailyfx.com/economic-calendar#2020-02-20
  • Heads Up:🇺🇸 USD Leading Index (JAN) due at 15:00 GMT (15min), Actual: N/A Expected: 0.4% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-02-20
  • $EURUSD currently trades either side of 1.0800 and has lost nearly 450 pips since the December 31 high at 1.1240. Get your EUR/USD technical analysis from @nickcawley1 here: https://t.co/3qAfwuW37o https://t.co/3vG9IjVJts
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: -0.14% US 500: -0.18% Wall Street: -0.18% Germany 30: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9ehhDskOIg
  • $USDJPY breakout still in full bloom, tracking > 2 big figs already. Some potential resistance just overhead, 2019 swing-high around the psych & fib levels around 112.50 https://t.co/Dgag57Z6Aw
  • $USDCNH rises over 0.25% this morning to test resistance at 7.04 https://t.co/f0TAGOhUXV
  • Canadian Dollar Price Analysis: Loonie Drops, USD/CAD Turn or Burn? https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/02/20/Canadian-Dollar-Price-Action-Analysis-JS-Loonie-Drops-USDCAD-USD-to-CAD-Turn-or-Burn.html https://t.co/n79GzbgAaK
  • 🇺🇸 USD Philadelphia Fed Business Outlook (FEB), Actual: 36.7 Expected: 11.0 Previous: 17.0 https://www.dailyfx.com/economic-calendar#2020-02-20
Pound Tumbles as Economic and Fiscal Confidence Falter

Pound Tumbles as Economic and Fiscal Confidence Falter

2010-02-25 15:41:00
John Kicklighter, Chief Currency Strategist
Share:

Looking back over the headlines of the last 36 hours, there has been virtually no news or economic release to discourage confidence on the British pound. In contrast, the data behind the euro has deteriorated dramatically and the situation with Greece seems to be passing the point of no return. Naturally, this would suggest that the euro would be tumbling while the pound is relatively stationary; but this is certainly not the case. In fact, the regional currency is relatively anchored on the day, while the sterling has plunged. This is an unusual set of circumstances that perhaps falls back on dated beliefs that the UK perhaps as bad as it was six months ago; and the Euro Zone is more stable. I think this is a false notion and the market fundamentals will work themselves soon. Of course, it doesn't pay to bet against the market until there is a sign that market itself is ready to change its mind.

From my positions this morning, I have booked a loss and profit. After EURGBP broke above the 200-day SMA at 0.8835 and held there on an intrday basis, I decided to cut out for a 50 point loss. However, this was more than offset by the 200 points that I was able to make after taking off half my GBPUSD position this morning. I still like GBPUSD short and will keep the remaining half of that position on with a trailing stop. Looking across the market for other pound-based pair setups; many of the crosses are either set in the momentum of breakouts or are in the middle of ranges. I am somewhat interested in GBPCHF coming to the floor of a wedge formation (with the rising trendline that defines support dating back to January 2009) around 1.6425. However, it is best to wait and see what price action looks like when we get to that level rather than just setting a blind entry order.

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

DISCLOSURES

News & Analysis at your fingertips.