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
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here: https://t.co/n0CVWWOJDe https://t.co/0uLjsQ2gwM
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/nfiFAlyYXv
  • 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: https://t.co/Blrl0unrdT https://t.co/mIsVJ4zTbB
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/hymrumanUY
  • 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: https://t.co/kODPAfs2Iz https://t.co/6dAqxsVfxJ
  • 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: https://t.co/Xu3ZT7EtrW https://t.co/5VHKn52MaA
  • 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: https://t.co/nAa0fHq4Np https://t.co/mf9rsmIvaW
  • 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: https://t.co/7t4BzmLg8w https://t.co/mYWO0Eta0P
  • 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: https://t.co/ZvEMQuFjSs https://t.co/rMmq9cehnY
  • 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: https://t.co/mfwJ0sZLTs https://t.co/tm4k3IVzHr
Sterling Nudges Higher After PMIs, Brexit Continues to Dampen UK Growth

Sterling Nudges Higher After PMIs, Brexit Continues to Dampen UK Growth

Nick Cawley, Strategist

GBPUSD Price, Chart and Brexit:

  • UK economy set to grow by just 0.1% in Q1 2019 according to sentiment data.
  • Brexit talks continue in Brussels.

Q1 2019 GBP Forecast and USD Top Trading Opportunities

The latest UK Services Markit PMI beat lowly expectations, registering 51.3 in February, up from a two-and-a-half year low of 50.1 in January. New work fell for the second consecutive month while employment numbers declined “at the fastest pace for over seven years as businesses opted to delay staff hiring in response to subdued demand and concerns about the near-term economic outlook”, according to data provider IHS Markit. They added that the data suggest that “the economy is on course to grow by just 0.1% in the first quarter”.

How Market Sentiment & Confidence Releases Can Improve Your Trading.

Brexit negotiations continue today with UK Attorney General Geoffrey Cox and Brexit Secretary Stephen Barclay back in Brussels looking to find a way to break the Irish border backstop impasse. There is growing talk that the EU and UK will agree on an arbitration mechanism to solve the backstop situation – the EU are still refusing to re-open the Withdrawal Agreement - although this may still struggle to get through the House of Commons.

Later in the session (15:35 GMT), Bank of England Governor Mark Carney will be giving evidence to the House of Lords Economic Affairs Committee. He is likely to be questioned about Brexit readiness and fears that globilisation could help spark a global recession.

Sterling Weekly Technical Outlook: GBP Slipping but Still Positive.

GBPUSD remains rangebound as talks continue. A stronger US dollar has weighed on the pair in the past few days and sideways trading is expected to continue all the way up to next votes between March 12-14. The chart suggest support between 1.3150 and 1.3177 in the short-term, although a break and close lower would bring the three-moving averages between 1.3060 and 1.2940 into play.

GBPUSD Daily Price Chart (June 2018 – March 5, 2019)

Sterling Nudges Higher After PMIs, Brexit Continues to Dampen UK Growth

Retail traders are 52.4% net-long GBPUSD according to the latest IG Client Sentiment Data, a bearish contrarian indicator. Recent changes in daily and weekly sentiment however currently suggest a mixed trading bias for GBPUSD.

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 EURUSD – 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