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
Mixed
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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
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
Bitcoin
Mixed
More View more
Real Time News
  • $USDMYR rose as #Malaysian CPI clocked in at 1.1% y/y versus 1.3% expected. Most of the Ringgit's weakness was already delivered as risk trends soured in APAC trade. #USD rose as #Nikkei225 futures fell, reacting to the latest #Brexit drama (as expected) - https://t.co/vtMaQur9Rr https://t.co/uZumSqSFWO
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.94%, while traders in Germany 30 are at opposite extremes with 77.96%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/c9YDTgwiOp
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.18% 🇨🇭CHF: -0.03% 🇪🇺EUR: -0.05% 🇬🇧GBP: -0.17% 🇳🇿NZD: -0.20% 🇦🇺AUD: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/iw4jyVH1GO
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.18% US 500: -0.28% France 40: -0.75% Germany 30: -0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bRx6YViuFL
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/VUulaSvv72
  • My trading video for today: 'Both $GBPUSD and S&P 500 Advance Halted by #Brexit Headlines, $EURUSD In ECB's Pull https://www.dailyfx.com/forex/video/daily_news_report/2019/10/23/Both-GBPUSD-and-SP-500-Advance-Halted-by-Brexit-Headlines-EURUSD-In-ECBs-Pull.html?utm_source=Twitter&utm_medium=Kicklighter&utm_campaign=twr
  • I am beginning a new article series that ties into my discussions each week regarding IG Client Sentiment. Check out today's report where the focus was on the British Pound. You may also find a video of the recording there $GBPUSD $GBPJPY #Brexit - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/10/23/GBPUSD-and-GBPJPY-Contrarian-Outlook-May-Shift-on-Brexit-Delay.html?CHID=9&QPID=917702 https://t.co/yKH8Qz6qUd
  • Recent $USD weakness may give way to the next leg in an almost two-year uptrend as markets stockpile cash despite the Fed’s interest rate cut cycle.Get your market update from @IlyaSpivak here: https://t.co/CSvCbTCDxc https://t.co/m9va7qYDni
  • IMF cuts 2019 Asia growth forecasts to 5 percent, down by 0.4% in April . 2020 expansion expectations are now seen at 5.1%, weaker by 0.3% compared to the prior estimate -BBG #IMF
  • #USDBRL appears to be hovering in a congestive zone after it broke the August uptrend and is now indecisively floating between 4.0538-4.1935. A break lower with follow-through could precede an aggressive decline. Will keep you all posted. https://t.co/WBlIhfIGia
GBPUSD Price Outlook: Sterling Technicals Turning Positive

GBPUSD Price Outlook: Sterling Technicals Turning Positive

2019-04-03 07:38:00
Nick Cawley, Analyst
Share:

GBPUSD Price, News and Brexit Latest

  • Sterling continues to price out a no deal Brexit and further gains may be on the cards.
  • PM May turning Brexit as soft as possible.

The Brand New DailyFX Q2 2019 Trading Forecast and Guides are Available to Download Now!!

GBPUSD Price – Technical Outlook

Sterling has been volatile of late with Brexit headlines again dominating market pricing. The latest move by UK PM Theresa May to ignore the wishes of her hardline Brexiter MPs and offer Labour party leader Jeremy Corbyn cross-party talks, have all but taken a no deal Brexit off the table now. It now looks likely that the UK will leave the EU with a softish-Brexit via a customs union or not the leave the EU at all, either by revoking article 50 or a second referendum.

This latest twist has pushed GBPUSD back above trend, fueling a bullish bias that may stretch all the way back up to the March high at 1.3382, the highest level seen since June 2018. Cable has broken back above the bull trend line from January 2 this year after trading below it over the last week and needs to consolidate and close above trend to re-start any further rally. GBPUSD has also broken back above the 23.6% Fibonacci retracement level at 1.3177 and above both the 20- and 50-day moving averages. The CCI indicator still has room to run before it flashes an overbought signal. To the downside, 1.3140, 1.3090 and 1.3000 will act as short-term brakes.

Sterling (GBP) Week Ahead: Brexit Votes to Drive Price Action | Webinar

GBPUSD Daily Price Chart (May 2018 – April 3, 2019)

GBPUSD Price Outlook: Sterling Technicals Turning Positive

Retail traders are 66.8% net-long GBPUSD according to the latest IG Client Sentiment Data, a bearish contrarian indicator. See how recent daily and weekly positional changes can move client sentiment.

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 Sterling – 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

News & Analysis at your fingertips.