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
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
More View more
Real Time News
  • Heads Up:🇯🇵 BoJ Gov Kuroda Speech due at 05:35 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • 🇯🇵 Leading Economic Index Final (JUL) Actual: 104.1 Previous: 104.2 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Crude Oil Prices Hit 2-Month High on Supply Squeeze, 2021 Top Eyed - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/09/27/Crude-Oil-Prices-Hit-2-Month-High-on-Supply-Squeeze-2021-Top-Eyed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #OOTT #crudeoil https://t.co/Rx9kbVPlys
  • 🇯🇵 Leading Economic Index Final (JUL) Actual: 104.1 Previous: 104.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • 🇯🇵 Coincident Index Final (JUL) Actual: 94.4 Previous: 94.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Previous: 94.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Previous: 104.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/I4C6fBkYPe
  • 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: https://t.co/9S5tXIasun https://t.co/Iqa6geONY6
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-27
Bank of England Leaves Rates Unchanged, Sterling (GBP) Remains Supported

Bank of England Leaves Rates Unchanged, Sterling (GBP) Remains Supported

Nick Cawley, Strategist

Bank of England, Brexit and Sterling (GBP) Talking Points:

  • Bank of England leaves all monetary policy measures unchanged.
  • Quarterly Inflation Report highlights mixed inflation outlook.

The DailyFX Q4GBP Forecast is available to download.

Bank of England – Steady as She Goes

The UK central bank left all monetary policy settings unchanged Thursday – 9-0 vote and said that future interest rate hikes would be limited and gradual. The BoE said Q3 saw Q3 UK GDP at 0.6%, slowing to 0.3% in Q4 while the 2019 GDP forecast was cut to 1.7%, the same level as 2020 and 2021. In a slightly hawkish twist, the central bank added that the output gap has closed, and that the UK economy may run hot from late 2019. Wage projections rose to 2.75% in Q4 2018, 3.25% in Q4 2019 and 3.5% in Q4 2020.

Inflation projections were mixed with one-year at 2.10%, down from 2.15% at the last forecast, two-year inflation at 2.12%, up from 2.09% and three-year inflation at 2.03%, unchanged from the last forecast.

Sterling remained near its best levels of the day, aided by headlines that the EU and UK had reached a tentative agreement of financial services, a story that was later dismissed, but not out of hand.

GBP Price: Positive Brexit News Boosts Sterling, BoE Ahead

FTSE 250 Outperforms FTSE 100 on Brexit Developments

GBPUSD Daily Price Chart November 1, 2018

Sterling is up over 2 points against a slightly weaker US dollar over the last 24 hours and is back at levels last seen one week ago. The pair continue to trade below all three moving averages and will remain volatile as Brexit headlines dominate market thinking.

IG Client Sentimentdata show that retail investorsare 79.4% net-long GBPUSD, a bearish contrarian indicator. However, recent daily and weekly shifts in sentiment give us a strong GBPUSD bearish bias.

Bank of England Leaves Rates Unchanged, Sterling (GBP) Remains Supported

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

--- Written by Nick Cawley, Analyst

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

Follow Nick on Twitter @nickcawley1

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

DISCLOSURES