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
Oil - US Crude
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
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
GBP/USD Outlook: Sterling Soars on Brexit Deal Chatter - Now What?

GBP/USD Outlook: Sterling Soars on Brexit Deal Chatter - Now What?

Rich Dvorak, Analyst


  • GBP/USD price action is up over 300-pips from recent lows thanks to Brexit developments
  • Pound Sterling jumping in response to news that a Brexit trade deal has finally been reached
  • UK Prime Minister Boris Johnson muscles agreement with EU after capitulating on fisheries

Hints of a Brexit deal emerging earlier on Wednesday have garnered more traction with several sources echoing UK-EU negotiators have reached a trade agreement. The corresponding unwind of no-deal Brexit speculation has fueled a bid beneath the Pound Sterling and propelled spot GBP/USD price action higher by more than 130-pips on the session and up over 300-pips from its week-to-date swing low.

This follows reports earlier in the week of a last-ditch effort made by UK Prime Minister Boris Johnson to reach a trade deal with movement on fisheries, which has been a major point of contention between London and Brussels. Headlines crossing the wires from UK-EU officials today have pointed to a deal finally being reached and that it is now ‘just a matter of announcing it.’

GBP/USD is likely trading on its front foot with markets placing greater emphasis on improving Brexit rhetoric despite headwinds stemming from fears over the spread of COVID-19 and lockdowns. The Pound-Dollar currently hovers about 100-pips below Wednesday’s swing high, however, as Brexit trade deal optimism cools off a bit. This looks owed to a pause in Sterling strength while traders await official confirmation and legal text of the Brexit deal. Concerns about being able to ratify a trade agreement before the 31 December Brexit transition period deadline could be keeping bullish bets at bay as well.


GBP USD Price Chart British Pound to US Dollar Technical Forecast

GBP/USD price action might face a bit of turbulence as these final details are ironed out. The 1.3400-handle stands out as a potential area of technical support that could provide the cable with a degree of buoyancy before the possibility of a deeper retracement toward the 1.3200-price level comes into consideration. That said, hearing a formal announcement that a Brexit trade deal has been reached from the horse’s mount (i.e. from UK Prime Minister Boris Johnson and European Council President Ursula von der Leyen) could recharge Pound Sterling buying pressure.

This brings to focus the possibility that GBP/USD bulls might take another stab at month-to-date highs around the 1.3550-1.3600 price zone on the back of Brexit deal confirmation. A heartier advance may be facilitated by increasing momentum and Bollinger Band expansion. To that end, the Pound-Dollar might have room to extend its climb considering the relative strength index is edging higher and remains comfortably below ‘overbought’ territory on a 4-hour chart. A sustained rally by GBP/USD price action into the new year could open up the door to the 1.4150-level underpinned by 2018 swing highs.

-- Written by Rich Dvorak, Analyst for

Connect with @RichDvorakFX on Twitter for real-time market insight

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