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
  • 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:
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • 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:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
GBP Price Outlook: Downtrend Still in Place After European Elections

GBP Price Outlook: Downtrend Still in Place After European Elections

Martin Essex, MSTA, Analyst

GBP price, news and analysis:

  • The European Parliament elections in the UK provided no clear signal on the country’s future in the EU.
  • That leaves GBPUSD in the downtrend that began in early May despite its recent relative stability.

GBPUSD price: stability may not last long

The European Parliament elections in the UK have had little impact on GBPUSD so far, with the currency largely stable at the start of the first full day’s trading in London after Sunday’s election results. The results can be interpreted in several ways but essentially they showed the country remains split down the middle on Brexit, with parties in favor and those against garnering roughly the same number of votes.

That means the downtrend in GBP in place since the start of this month remains in place, suggesting further losses ahead.

GBPUSD Price Chart, Two-Hour Timeframe (May 2 – May 28, 2019)

Latest GBPUSD price chart.

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

The key to Sterling’s future is who will become Conservative Party leader, and therefore Prime Minister, after Theresa May’s decision to quit. If a Brexit hardliner such as Boris Johnson, the former Foreign Secretary and current favorite to become the next PM, wins then GBP will likely fall further – although that may be already priced in to the pair.

If someone less committed to a hard Brexit such as Philip Hammond, the Chancellor of the Exchequer, becomes the next leader that would likely help the British Pound – but for now that looks considerably less likely.

In the meantime, the key to the future of GBP remains whether it can hold above the 1.26 mark. After it bounced from just above that level last Thursday, any drop below could send the pair down to its 2019 low at 1.2435 touched on January 2.

GBP Bears Beware: Boris as UK Prime Minister Might be Good for Sterling

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 or on Twitter @MartinSEssex

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