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.

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
EUR/USD
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
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
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.34% 🇨🇭CHF: 0.22% 🇨🇦CAD: 0.02% 🇯🇵JPY: -0.22% 🇦🇺AUD: -0.54% 🇳🇿NZD: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OsdDsHNWHG
  • Heads Up:🇺🇸 Housing Starts MoM (SEP) due at 12:30 GMT (15min) Previous: -5.1% https://www.dailyfx.com/economic-calendar#2020-10-20
  • Heads Up:🇺🇸 Building Permits MoM (SEP) due at 12:30 GMT (15min) Previous: -0.9% https://www.dailyfx.com/economic-calendar#2020-10-20
  • UK PM Spokesman says the UK needs clear assurance the EU has changed stance in talks $GBP
  • Spain's health minister says after Madrid state of emergency expires, there will be 3 weeks of strict measures
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/a5t47Ew7jz
  • Heads Up:🇩🇪 Bundesbank Balz Speech due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-20
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.83%, while traders in EUR/USD are at opposite extremes with 67.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CqBP2Kh4Mb
  • 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/1FeukhlxGv https://t.co/m7p1kgnlDS
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.93% Oil - US Crude: 0.26% Gold: 0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/k1jyRTgirU
GBP/USD Picks up, EUR/GBP Rallies, FTSE Nears Support - Webinar

GBP/USD Picks up, EUR/GBP Rallies, FTSE Nears Support - Webinar

2019-08-05 11:44:00
Nick Cawley, Strategist
Share:

Sterling (GBP) Pairs - Prices, Charts and Analysis:

Q3 2019 Currency Forecasts andTop Trading Opportunities

Keep up to date with all key economic data and event releases via the DailyFX Economic Calendar

Financial Markets Rattled by Heightened US-China Trade War

Risk-off trades dominated the start of the week after US President Donald Trump applied an additional round of tariffs on Chinese imports. Over the weekend, the closely-watched USDCNH rate traded above 7.00, a weakening that will rile the US and may see additional action taken

Risk-off markets received a strong bid in Asian hours which rolled over into Europe. Equity markets slumped by near 2%, taking the FTSE 100 close to a support area where the 200-day moving average meets an important Fibonacci retracement level.

GBPUSD picked up a fraction in European trade and may keep pushing ahead, but gains are likely limited, and risk-reward makes taking a position difficult. EURGBP traded just under 0.9200, as the EUR picked up a small bid and the recent high around 0.9300 may come under pressure.

EURGBP Weekly Price Chart

GBP/USD Picks up, EUR/GBP Rallies, FTSE Nears Support - Webinar

Retail traders are 79.3% net-long GBPUSD according to the latest IG Client Sentiment Data, a bearish contrarian indicator. However recent daily and weekly positional changes give us a stronger GBPUSD bearish contrarian trading bias.

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