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
Wall Street
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 Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.11% 🇯🇵JPY: 0.11% 🇨🇦CAD: 0.10% 🇪🇺EUR: 0.07% 🇦🇺AUD: 0.07% 🇬🇧GBP: -0.16% View the performance of all markets via
  • 🇫🇷 Unemployment Benefit Claims (MAY) Actual: -133.7K Previous: 65.9K
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.29% US 500: 0.11% FTSE 100: 0.03% Germany 30: -0.09% France 40: -0.14% View the performance of all markets via
  • Heads Up:🇫🇷 Unemployment Benefit Claims (MAY) due at 10:00 GMT (15min) Previous: 65.9K
  • 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:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • 🇮🇹 Business Confidence (JUN) Actual: 114.8 Expected: 112 Previous: 110.9
  • 🇮🇹 Consumer Confidence (JUN) Actual: 115.1 Expected: 112 Previous: 110.6
  • Hang Seng Tech Index Attempts to Break key Resistance - #HSTECH chart
GBP Buoyed on Fresh Brexit Optimism

GBP Buoyed on Fresh Brexit Optimism

Justin McQueen, Analyst

GBP Analysis and Talking Points

  • GBP Buoyed by Brexit Optimism
  • GBP Volatility Likely to Persist

See our Q4 GBP forecast to learn what will drive the currency through the quarter.

GBP Buoyed by Brexit Optimism

The Pound is notably firm this morning on hopes that a Brexit deal is in the pipeline. This follows EU source reports that the European Union’s Brexit negotiator told national diplomats that a divorce deal with the UK was “very close”. As always with GBP, given that headline risk for the currency remains elevated, eyes will be on any official confirmation from either side. In the meantime, this is likely to fuel optimism ahead of the crucial EU summit in 2-weeks that a deal could potentially be on the way and thus keep the Pound bid with speculative shorts feeling the squeeze (GBP shorts highest since May 2017).

 GBP Buoyed on Fresh Brexit Optimism

Source: DailyFX

GBP Volatility Likely to Persist

2 weeks is a long time in the political world and as such, more twists and turns are still to be had in GBP which will likely keep volatility high in major GBP pairs. Recently, EU’s Donald Tusk stated that the October EU summit will be a moment of truth in Brexit negotiations whereby an agreement would likely see the Pound surge as hopes a smooth departure from the EU increases.

EURGBP: Having finally made the break through the 200DMA at 0.8839, the pair is now eying support at 0.8810 (50% Fibonacci Retracement of the 0.8313-0.9306 rise) before the psychological 0.8800 handle.

GBPAUD: The pair continues to track higher, failing to make a breach above 1.8500 however. Another test could see the 2018 high situated at 1.8510 come into focus. Elsewhere, the pair have recently formed a golden cross (50DMA rises above 200DMA) increasing the bullish outlook.

GBPUSD Price Chart: Intra-day Time Frame (October 5th)

 GBP Buoyed on Fresh Brexit Optimism

Chart by IG

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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