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
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1cYv9t https://t.co/7Q5Y3RquIj
  • 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
GBP/USD Slumps as Brexit Vote Canceled

GBP/USD Slumps as Brexit Vote Canceled

Nick Cawley, Strategist

Sterling, Brexit and US dollar:

  • Brexit vote called off?
  • EU Commission says best and only deal on the table.

Q4 Trading Forecasts including USD and GBP.

UPDATE – Brexit Vote Canceled

UK PM Theresa May has cancelled Tuesday’s Withdrawal Bill in the House of Commons and has just told the House that she is going back to Brussels to try and renegotiate the contentious Irish backstop agreement. No timetable has yet been given and for either the meeting – likely this week – or when the Withdrawal Bill will be voted on. PM May also admitted that she faced losing the vote if it had gone ahead on Tuesday and appealed to both sides of the House to support her in her new discussions.

GBP/USD Price Chart: 1-Minute Timeframe (December 10, 2018 Intraday)

GBP/USD Slumps as Brexit Vote Canceled

Sterling, already weak from the rumors swirling this morning, has taken another, sharp leg lower and broken below 1.2600 and the June 2017 low at 1.2589. Below here, horizontal support levels at 1.2109, followed by 1.19833 and 1.1800. Sterling looks weak and is expected to go lower as Brexit confusion continues, pacing for its worst single-day loss since the October 6, 2016 flash crash.

ORIGINAL - Sterling Slides to a New 18-Month Low on Brexit Vote Rumors

The UK Parliamentary Brexit agreement vote, scheduled for Tuesday, is said to have been postponed according to multiple sources, and Sterling is believing it so far. GBPUSD has fallen to a new 18-month low of 1.2651 while EURGBP has jumped to a three-month high of 0.9025 in choppy trading.

While talk swirled around this morning about a possible vote cancellation, it now looks increasingly likely and the market does not like it. UK PM May’s position now becomes increasingly untenable and all possibilities are now open. In addition, the EU Commission recently said that the current Brexit vote on the table is the best and only one and would not be changed. PM May’s unpopular deal was expected to be rejected by a heavy majority, leaving the UK trapped with either a no deal or no Brexit as we stand.

Sterling Directionless – Will Meaningful Brexit Vote Take Place.

Brexit Impact on Sterling (GBP).

GBP/USD Price Chart: Daily Timeframe (March to December 2018)

GBP/USD Slumps as Brexit Vote Canceled

Retail traders are 69.8% net-long GBPUSD, according to the latest IC Client Sentiment Data, a bearish contrarian indicator. However, recent changes in daily and weekly positions currently give us a mixed trading bias.

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.

What is your view on GBPUSD – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES