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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • So, is Ethereum considered a 'value' market to new Dogecoin traders?
  • ...but before you write off H&S patterns because more have fallen apart rather than catalyzed lately, consider the monthly chart of $AUDUSD as well. That 0.8000-0.7925 zone is no joke as its historical midpoint, trendine and other technical points confluence
  • While there are other Dollar pairs getting more attention lately, I think $AUDUSD deserve a spot in the rotation. It's currently working out whether it is going to abide 2021's range as a consolidation reversal risk (H&S pattern)...
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.31% Oil - US Crude: -0.18% Silver: -0.50% View the performance of all markets via
  • Fed's Evans: - Tepid April jobs report was a 'head scratcher' - Welcomes wage growth as sign of a healthy jobs market - Fed has room to overshoot inflation target - 'It will be a while' before US has made enough progress to talk about tapering
  • US 10-Year Treasury yield extending to session highs and steering the Nasdaq to new lows of the day $NDX $QQQ $NQ_F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.77%, while traders in Wall Street are at opposite extremes with 78.12%. See the summary chart below and full details and charts on DailyFX:
  • The price of gold extends the series of higher highs and lows from the previous week even though the 10-Year US Treasury yield retraces the decline following the US Non-Farm Payrolls (NFP) report. Get your $XAUUSD market update from @DavidJSong here:
  • Fed's Evans: - Very optimistic US will get back to strong job numbers - Still expects unemployment to fall below 5% this year $USD $DXY $TNX
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.67% US 500: -0.15% France 40: -0.18% Germany 30: -0.20% FTSE 100: -0.27% View the performance of all markets via
GBPUSD, EURGBP Prices, Brexit and Market Risk - Webinar

GBPUSD, EURGBP Prices, Brexit and Market Risk - Webinar

Nick Cawley, Strategist

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

  • Financial markets start the week in risk-off mode.
  • Heavyweight data may support Sterling but is unlikely to send it much higher.

Q3 2019 GBP Currency Forecasts andTop Trading Opportunities

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

UK Data May Prove Sterling (GBP) Supportive

Some heavyweight UK data releases this week that are expected to show that the UK jobs and wages market remain strong and the inflation is at target, leaving the Bank of England with a problem. While this, expected, data would normally push the BoE to hike rates, Brexit remains the main driver of UK monetary policy and in the case of a no-deal Brexit, the next move in UK interest rates is lower. Sterling remains weak against both the USD and EUR and if data disappoints, a further break lower should be expected.

Brexit headlines are limited due to the Parliamentary recess but there is growing talk that a group of Remainer MPs will try and stop PM Johnson from leaving the EU without a deal by calling for a vote of no confidence. The PM’s special advisor Dominic Cummings has already said that it is too late to try and derail the process, although in UK politics, anything is possible.

GBPUSD Daily Price Chart (February – August 12, 2019)

GBPUSD, EURGBP Prices, Brexit and Market Risk - Webinar

Retail traders are 77.5% 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 bias.

EURGBP has edged lower after making a new high earlier in the session. Since then the pair have sold-off and for EURGBP to press to its next target – 0.9435 made in October 2016 – then it will need to close above 0.93067.

EURGBP Daily Price Chart (October 2018 – August 12, 2019)

GBPUSD, EURGBP Prices, Brexit and Market Risk - Webinar

Retail traders are 18.9% net-long EURGBP, a bullish contrarian indicator. However recent changes in daily and weekly sentiment suggest that the pair may soon reverse lower.

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.