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
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
  • 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:
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX 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:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes 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:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • 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:
Brexit Latest: Sterling (GBP) Remains Weak Despite PM Winning Confidence Vote

Brexit Latest: Sterling (GBP) Remains Weak Despite PM Winning Confidence Vote

Nick Cawley, Strategist

Sterling, Brexit and EU Summit Meeting:

  • UK PM May leadership cannot be challenged for another year.
  • PM in Brussels for further Brexit talks; will the EU be more conciliatory?

Q4 Trading Forecasts including USD and GBP.

Sterling (GBP) Still at the Whim of the EU Negotiators

After a comfortable victory at last night’s no confidence vote (200 – 117), UK PM May returns once again to Brussels for further talks about how to break the Brexit impasse that continues to weigh on the British Pound. While the margin of the victory may help empower the PM, the fact that 117 MPs voted against her means that the current Brexit deal favored by the Prime Minister will not pass a Parliamentary vote, leaving her back at square one. UK PM May will talk to negotiators in Brussels later hoping that her victory will lead to the EU offering some sort of concession over the Irish backstop arrangement that will enable her to push through with her plan. Political chatter suggests that the EU may change some wording but will not change any legal text, leaving it up to the Theresa May to try and persuade her critics to take the EU’s word without any legal obligation being in place.

The GBPUSD mini-bounce on Wednesday - off a 20-month low - now looks likely to be re-traced over the coming trading sessions unless the EU changes its stance, and that seems very unlikely. The daily chart shows the upside blocked with resistance starting at 1.2734, the 20-day moving average, followed by old support at1.2785 and the 50-day moving average at 1.2854. To the downside, the recent low area between 1.2474 and 1.2476 remain the first target ahead of two weekly lows made in early April 2017 around 1.2350.

IG Retail Sentimentdata show traders are 60.7% net-long GBPUSD, a contrarian bearish indicator. However, recent daily and weekly sentiment shifts suggest the pair may move soon reverse higher.

GBPUSD Daily Price Chart (May - December 13, 2018)

Brexit Latest: Sterling (GBP) Remains Weak Despite PM Winning Confidence Vote

Brexit Impact on Sterling (GBP).

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.