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.

Free Trading Guides
EUR/USD
Bearish
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
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Central bank independence has several advantages. Find out what they are in detail with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/cQQmuH8biQ
  • The US Dollar remains in consolidation mode against the Philippine Peso and Indian Rupee. Will the Singapore Dollar weaken as $USDSGD rising support holds ahead? Find out from @ddubrovskyFX here: https://t.co/HZ8Loqj3Ey https://t.co/6PCFkdj3ka
  • Follow @DailyFXedu for your regular #webinar updates with @DailyFX analysts and catch up on the webinars you missed. https://t.co/Da10QUg9r1
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
  • $DXY & $SPX500 hold steady after #FED rate cut. Get your update from @JohnKicklighter here: https://t.co/vqXlKCMDYA
  • Dow Jones & Dax 30 levels to watch ahead of the fed from @PeterHanksFX here: https://t.co/iUIrsygKz2
  • The politics of the US and UK may be starkly divided but their grip on the vast, $6.6 trillion global foreign exchange trade seems as tight as ever. Get your market update from @DavidCottleFX here:https://t.co/xTKHOvrIqg https://t.co/vtHhdnF82Q
GBPUSD Price Edging Ahead Despite Growing Risk of No-Deal Brexit

GBPUSD Price Edging Ahead Despite Growing Risk of No-Deal Brexit

2018-12-19 11:30:00
Martin Essex, MSTA, Analyst and Editor
Share:

GBPUSD price, news and analysis:

  • The GBPUSD price continues to shrug off the growing risk of a no-deal Brexit, implying some underlying strength in the Pound.
  • Moreover, UK inflation data showing CPI rising at the slowest rate for 20 months year/year in November has also failed to dent sentiment.

GBPUSD price advances

The GBPUSD price is continuing to edge ahead even as the UK government urges the country to prepare for a no-deal Brexit 100 days from now and businesses trigger contingency plans just in case.

GBPUSD Price Chart, Hourly Timeframe (December 11-19, 2018)

Latest GBPUSD price chart.

Chart by IG (You can click on it for a larger image)

The Pound’s seeming indifference to the government’s activation of its no-deal plans suggest that traders are no longer too worried about this scenario – which some claim to be the worst possible outcome for the UK.

UK inflation at 20-month low

Data showing the CPI measure of UK inflation falling to a 20-month low of 2.3% last month, in line with expectations, has also failed to weaken the Pound, while news from the Confederation of British Industry that UK factory orders grew for a second successive month in December suggests that industry is coping better with Brexit than its detractors forecast.

More to read:

Brexit Timeline - The Path Ahead

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 martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES

News & Analysis at your fingertips.