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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The market’s preferred ‘fear indicator’ shows a persistent uncertainty around the near future. What can our current conditions and history tell us what to expect from the #VIX through the final two months of the year?https://t.co/jlhcFhH4sI https://t.co/zIrEjxqymJ
  • #Stock market performance is considered an important predictor of the economic outlook. What else can it be used to project? https://t.co/ViTMl19TW3 #Elections2020 https://t.co/methLCaBho
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/b9XwwYS9uJ https://t.co/8OIZVJnaD6
  • A #Euro reversal off technical downtrend resistance now risks a larger correction in price. Here are the levels that matter on the $EURUSD weekly chart. Get your #currencies update from @MBForex here: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/31/Euro-Technical-Outlook-EURUSD-Breakdown-Aims-For-Multi-month-Lows.html?QPID=30472&CHID=9 https://t.co/iVhmCXi9EG
  • We are days away from the US Presidential election and the markets are caught in the vortex. A contested outcome would raise serious volatility for the markets whereas a decisive outcome seems to support bullish $SPX and Dollar views from the market rank. https://www.dailyfx.com/forex/video/daily_news_report/2020/10/31/SP-500-and-Dollar-Forecast-Leads-Global-Markets-with-Elections-Expectations-.html https://t.co/JnJbyu6TRT
  • The future implications of the #Elections2020 may influence $AUDUSD following the #RBA and #Fed rate decisions as Congress struggles to pass another round of fiscal stimulus. Get your #currencies update from @DavidJSong here: https://t.co/soPu0Wefz2 https://t.co/UWsERr2AYh
  • Gold prices declined in the aftermath of bearish technical cues, but a key zone of support was reinforced. $XAUUSD volatility risk is elevated ahead of the #Elections2020. Get your #metals update from @ddubrovskyFX here: https://t.co/gWOxdqk8OL https://t.co/gBMgF0YNjH
  • USD awakens, placing GBP/USD on the backfoot, while EUR/GBP cracks 0.90. Get your #currencies update from @JMcQueenFX here: https://t.co/fndMQJLul8 https://t.co/elz5gNAKrB
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd https://t.co/7EzMPg9Kqg
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/DjMdgL5x19
Sterling (GBP) Price - Brexit Drivers and a FTSE 'Golden Cross' - Webinar

Sterling (GBP) Price - Brexit Drivers and a FTSE 'Golden Cross' - Webinar

2019-09-30 11:34:00
Nick Cawley, Strategist
Share:

Brexit News and Sterling (GBP) News, Charts and Analysis – Webinar

  • Sterling quiet, PMIs on the horizon.
  • Bullish technical signal flashing on the FTSE.

Q3 2019 GBP Forecasts and Top Trading Opportunities

UK PM Johnson to Address the Conservative Faithful as Brexit Drags on

A busy week for Conservative MPs who will be dividing their time between Parliament and the Party Conference in Manchester. It is expected that the Chancellor will announce fresh spending plans to help boost the economy, while Brexit planning continues. Rumors still swirl that a deal is starting to come together although it may not be soon enough if, as expected, Parliament again tries to tie Boris Johnson’s hands.

GBPUSD remains around 1.2300 ahead of the latest round of UK PMIs. The manufacturing sector is weak, as it is in Europe, while the composite PMI is teetering on the divide (50) between recession and expansion. At the end of the week, the latest US non-farm payroll report will be watched closely to see if the greenback can continue its move higher.A ‘head and shoulders’ pattern is also forming, normally a signal of lower prices.

GBPUSD Price Daily Chart (January – September 30, 2019)

Sterling (GBP) Price - Brexit Drivers and a FTSE 'Golden Cross' - Webinar

Brexit Glossary: Brexit Jargon and Terms Explained

The FTSE 100 chart is also showing another closely watched technical signal. The 20-day moving average has now pushed above the 200-day ma, a ‘golden cross’, a set-up that indicates higher prices as short-term momentum dominates market thinking.

FTSE 100 Daily Price Chart (January – September 30, 2019)

Sterling (GBP) Price - Brexit Drivers and a FTSE 'Golden Cross' - Webinar

The IG Client Sentiment Indicator shows retail traders are 71.0% net-long GBPUSD, a bearish contrarian 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 and the FTSE 100 – 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