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
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
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • What is your forex trading style? Take the quiz and find out:
  • 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:
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
Further GBP Price Drop Likely as Brexit Deal Faces Strong Opposition

Further GBP Price Drop Likely as Brexit Deal Faces Strong Opposition

Martin Essex, MSTA, Analyst

GBP price, news and analysis:

  • The proposed Brexit agreement between UK PM Theresa May and the EU is facing strong political opposition all round in the UK.
  • That means the likely next move in the GBPUSD price is lower still as she struggles to win approval for it.

GBP price at risk

GBPUSD is dropping further below 1.30 in Europe Thursday after a highly volatile session Wednesday as traders weighed up the impact of the proposed Brexit deal between UK Prime Minister Theresa May and the EU. Moreover, it could well come under more downward pressure in the days ahead as opposition to the agreement dents confidence in the Pound.

May is due to make a statement on the agreement in Parliament Thursday ahead of a likely EU Summit later this month, perhaps on November 25, but she faces a series of hurdles and a stumble at any one of them could lead to more GBP weakness.

GBPUSD Price Chart, Daily Timeframe (July 1 – November 15, 2018)

Latest GBPUSD price chart.

Chart by IG

In particular, the deal has to be ratified by the UK Parliament and that looks currently to be very difficult to achieve amid hostility from the opposition Labour Party and from Northern Ireland’s Democratic Unionist Party that holds the balance of power in Parliament.

May also faces dissent from both the hardline supporters of Brexit and those wishing to remain in the EU within her own ruling Conservative Party. Despite winning the approval of her cabinet for the potential agreement, the Brexit Secretary Dominic Raab and a junior minister in the government resigned early Thursday and more resignations are possible.

May could also face a no-confidence vote in Parliament as Brexit hardliners gather signatures for a challenge to her authority that could ultimately lead to her downfall.

GBPUSD Price Chart, Five-Minute Timeframe (November 14-15, 2018)

Latest GBPUSD price chart.

Chart by IG

For now, a possible target is 1.27, where the pair traded in late October, and a drop below support there would likely lead to more losses.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at or on Twitter @MartinSEssex

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