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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.60%, while traders in Germany 30 are at opposite extremes with 75.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ABFYsKg28Y
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  • $GBPUSD dropped to the 1.3720 level this morning before finding support and bouncing higher. The pair is now trading around the 1.3820 level, at a nine day high. $GBP $USD https://t.co/nGPpGHhEQN
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Webinar: GBP Traders Looking For Positive UK GDP News

Webinar: GBP Traders Looking For Positive UK GDP News

Nick Cawley, Strategist

Talking Points

- UK assets are in need of some good economic news to keep their recent gains.

- UK Q2 GDP will provide some more clues to the strength of the UK economy, ahead of the US FOMC meeting later in the day.

Looking for trading ideas? - Get your free DailyFX Third-Quarter Trading Forecast and Trading Guide here.

In this webinar we will look at the current divergence between weak official data and stronger-than-expected business surveys and how they may impact various UK asset markets. While the first release of UK GDP only involves around 40% of the data, it will be closely watched as UK economic momentum fades going into the second-half of the year.

GBP/USD has climbed back above the 1.3000 level in recent days, but is this more down to USD weakness than GBP strength. A look at EUR/GBP shows that Sterling is not the driver in the upward move in cable.

The IG Sentiment indicator shows that while retail remain short of GBP/USD, they have pared back their positions in recent days. Will the indicator turn bearish from its current mixed reading?

If you would like to get your free IG Client Sentiment trading guide, please click here.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

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