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
Bearish
GBP/USD
Bearish
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
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
  • $DXY & $SPX500 hold steady after #FED rate cut. Get your update from @JohnKicklighter here: https://t.co/vqXlKCMDYA
  • Dow Jones & Dax 30 levels to watch ahead of the fed from @PeterHanksFX here: https://t.co/iUIrsygKz2
  • The politics of the US and UK may be starkly divided but their grip on the vast, $6.6 trillion global foreign exchange trade seems as tight as ever. Get your market update from @DavidCottleFX here:https://t.co/xTKHOvrIqg https://t.co/vtHhdnF82Q
  • How can confidence in trading help with avoiding #FOMOintrading? Find out from @WVenketas here: https://t.co/MY7j9ISn4S https://t.co/n7XwfiDZz2
  • The week saw a slightly more dovish than expected RBA minutes increase the importance of the latest labour market report, which showed an uptick in the unemployment rate to 5.3%. Where is $AUDUSD heading? Find out from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/gmGjlGBvjv
  • #OOTT https://t.co/TLgP7dUqFv
British Pound Q2 Forecast: Sterling’s Future Defined by Brexit Outcome

British Pound Q2 Forecast: Sterling’s Future Defined by Brexit Outcome

2019-04-02 22:18:00
Nick Cawley, Rich Dvorak,
Share:

Nearly three years after the UK voted to leave the European Union (EU), the situation is no clearer than it was on day one. Prime Minister Theresa May has lost more than one Brexit Secretary, her relationship with the EU is close to rock bottom and the original withdrawal date will have expired when you read this report. Yet, there may well be an agreement in the second-quarter of 2019 although, as ever, there is still no consensus about what this may be.

GBPUSD CURRENCY PRICE CHART: WEEKLY TIME FRAME (JUNE 15, 2015 TO MARCH 28, 2019) (CHART 1)

British Pound Q2 Forecast: Sterling’s Future Defined by Brexit Outcome

A positive Brexit outcome from the passage of Theresa May’s Withdrawal Agreement could bid GBPUSD above the long-term downtrend formed from the highs formed in July 2014 and May 2018. If positive developments continue to be made in the second phase of Brexit negotiations, the Pound has potential to climb to the 1.45 handle where its advance may lose steam near the 61.8 percent Fibonacci retracement line.

See the complete Q2’19 British Pound forecast as well as forecasts for the other major currencies, equities, Gold, and Oil.

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

DISCLOSURES

News & Analysis at your fingertips.