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
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
Gold
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
Bitcoin
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
  • President Trump says deal with China is very close - Fox
  • 🇨🇦 CAD Retail Sales (MoM) (SEP), Actual: -0.1% Expected: -0.1% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2019-11-22
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/3x0Pz4lmo1
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.82%, while traders in France 40 are at opposite extremes with 80.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/K8UJJFZsF4
  • LIVE IN 30MINS: Educational Webinar 5 Continuation patterns and how to trade them with @malkudsi https://www.dailyfx.com/webinars/422047211
  • RT @EdwardLawrence: Congressional sources tell me the Hong Kong Human Rights and Democracy Act has been delivered to the White House. We ar…
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.19% 🇨🇦CAD: 0.08% 🇯🇵JPY: 0.08% 🇪🇺EUR: -0.01% 🇨🇭CHF: -0.11% 🇬🇧GBP: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/7pNzrE5Yj2
  • Heads Up:🇨🇦 CAD Retail Sales (MoM) (SEP) due at 13:30 GMT (15min), Actual: N/A Expected: -0.1% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2019-11-22
  • Talking with @JeremyNaylor_IG earlier today about AUD and CAD...#trading #aud #cad @DailyFX 📊📈📉 https://t.co/ClwpW7IJt1
  • Educational Webinar @ 1400GMT 5 Continuation patterns and how to trade them with @malkudsi https://www.dailyfx.com/webinars/422047211
GBP Price Outlook: Driven by Brexit and Fed Chair Powell - Webinar

GBP Price Outlook: Driven by Brexit and Fed Chair Powell - Webinar

2019-08-19 11:36:00
Nick Cawley, Analyst
Share:

GBPUSD Price, Chart and Analysis:

  • Brexit news may increase as PM Johnson meets Angela Merkel and Emmanuel Macron.
  • US interest rate discussion will drive markets later in the week.

Q3 2019 GBP Currency Forecast andTop Trading Opportunities

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

Brexit and Fed Chair Jerome Powell

Sterling is opening the week on the backfoot as Brexit no-deal talk continues, along with increased rhetoric from the Remain supporters that they will stop PM Boris Johnson from pushing a no-deal Brexit through without Parliamentary consent. On Sunday, one the main UK newspapers published confidential documents – Operation Yellowhammer – that warned of food, fuel and medicine shortages in the case of a no-deal Brexit.

With no data to look forward to, the main events of the week are the German/Eurozone PMIs, with further weakness expected, and the FOMC minutes on Wednesday and Fed chair Jerome Powell’s speech at the Jackson Hole Symposium on Friday.

Asset markets to watch include GBPUSD, EURGBP and the FTSE 100.

GBP/USD Price Chart (January – August 19, 2019)

GBP Price Outlook: Driven by Brexit and Fed Chair Powell - Webinar

Retail traders are 73.2% 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 bullish contrarian biaseven though traders remain net-long.

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 (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

News & Analysis at your fingertips.