Skip to content
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.

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
Subscribe
Please try again
More View more
British Pound Q3 Forecast: Sterling Fundamentals - Volatility Set to Rise as Brexit D-Day Nears

British Pound Q3 Forecast: Sterling Fundamentals - Volatility Set to Rise as Brexit D-Day Nears

Adrian Raymond, Nick Cawley,

Sterling (GBP) is likely to become more volatile as the clock ticks down to the latest Brexit deadline - October 31st – with both sides becoming increasingly weary and frustrated at the continued ‘cankicking’ exercise. Against this backdrop, Sterling is likely to become more volatile, a boon for traders who have had to sit back and watch most Sterling pairs trade in relatively restricted ranges over the past three months.

GBP

Chart prepared by Nick Cawley

Sterling Q3 Technical Analysis: GBPUSD: Holding Flash Crash Trendline Support

Losses persisted for GBPUSD after failing to consolidate above the 1.3000 handle. Although, at the back end of Q2, the pair had managed to find stability above 1.2500, which also coincided with the rising trendline stemming from the October 2016 flash crash. While the pair may have found a floor at 1.2500 in the near-term, momentum indicators on the longer-term timeframes (weekly & monthly) remain tilted towards a bearish bias, thus a retest of 1.2500 cannot be ruled out, particularly if a closing break below the key trendline was made, which would expose the 1.2426 January low.

GBP

Chart prepared by Justin McQueen

To read the full British Pound Forecast, download the free guide from the DailyFX Trading Guides page

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

DISCLOSURES