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
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here: https://t.co/JLMDPZKvN8 https://t.co/YbdJnwoqj1
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/hqW38VawJl
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open https://t.co/BKCLJTDk9h
  • 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
Sterling (GBP) Remains Stable Despite 'Difficult' Brexit Talks

Sterling (GBP) Remains Stable Despite 'Difficult' Brexit Talks

Nick Cawley, Strategist

GBPUSD Price, Volatility and Brexit Latest:

  • Talks between the UK and EU have been described as ‘difficult’ and ‘robust’.
  • Sterling refuses to break lower but downside risks remain.

Q1 2019 GBP Forecast and USD Top Trading Opportunities

The latest talks between the EU and UK over the Irish border problem have been described as ‘difficult’, hardly a ringing endorsement of any progress being made between the two sides. EU chief negotiator Michel Barnier said that discussions have been difficult and that no solution has been found that is ‘consistent with the withdrawal agreement’. The EU have repeatedly said that this agreement will not be re-opened, leaving the two sides at an impasse over the Irish border. According to the PM’s official spokesman, while the EU continue to say that it wants a Brexit deal, Parliament has been clear that for this to happen, ‘we require legally-binding changes which mean that the UK can’t be trapped in the backstop indefinitely’. The UK described recent talks as ‘robust’ but ongoing.

Next week, PM May faces a meaningful vote on her current plan by Tuesday, which if defeated will then see the PM on Wednesday ask the House whether they want to keep a No-Deal Brexit on the table. If this is passed, and No-Deal is taken off the table, the House will vote on extending discussions and pushing back the current departure date, March 29.

GBPUSD continues to trade around 1.3150 with any sell-off being taken as an opportunity to buy cable. Sterling has also held up well across arrange of currencies, as traders continue to believe that a hard Brexit is not going to happen. The worry is that these hopes may be dashed, unlikely but still a possibility, leaving Sterling vulnerable to a sharp sell-off.

The daily classic pivot points show pivot at 1.3159 with initial resistance (R1) at 1.3193 and initial support (S1) at 1.3136.

GBPUSD Daily Price Chart (June 2018 – March 7, 2019)

Sterling (GBP) Remains Stable Despite 'Difficult' Brexit Talks

Retail traders are 50.5% net-long GBPUSD according to the latest IG Client Sentiment Data, a mildly-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 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