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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/bpKdIqGxsn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/jmcAIW4w5k
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/M9isuvnzqF
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here: https://t.co/6Ct5R0H41F https://t.co/c4rXmMjMrv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/4dhCP5pnxM
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here: https://t.co/kLXZewWBMd https://t.co/w1Nu0z569m
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Gn41XsGktg
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/2AR1qgx0tz
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here: https://t.co/5rjm2gr3EL https://t.co/aLwhWHMPqz
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/obH0RFLKhC
Sterling Forecast: GBP Rally Stoked by Latest General Election Polls

Sterling Forecast: GBP Rally Stoked by Latest General Election Polls

Nick Cawley, Strategist

UK General Election and GBP/USD Price, Charts and Analysis

  • UK opinion polls show UK PM Boris Johnson increasing his lead.
  • GBP/USD eyes multi-month high, EUR/GBP at six-month low.

Brand New Q4 2019 GBP and USD Forecasts and Top Trading Opportunities

UK Opinion Polls Show PM Johnson’s to Win General Election with Ease, Sterling Rallies.

Sterling has opened the week on a positive footing after weekend General Election polls showing UK PM Boris Johnson comfortably ahead of Labour’s Jeremy Corbyn. Four polls showed Boris Johnson winning a majority on December 12, with YouGov giving the Tories a 17 point lead, Opinium a 16 point lead, Deltapoll a 15 point lead, while SevantaComRes put the Conservatives eight points ahead. Bookmakers have also cut their odds on a Conservative majority to around 4/9, with no overall majority at 6/4 while a Labour majority is offered at 25/1. With nearly a month to go before the General Election, polls can, and will, move either way, the current lead for the Conservatives will have alarm bells ringing at Labour’s headquarters.

Sterling continues to price in the good news with GBPUSD nearing 1.3000 and looking to test highs last seen in early May. There are a handful of recent highs topping out at 1.3013 that need to be broken and closed above before the pair look at the May3 high at 1.3177. The pair also got a technical boost last Monday with the formation of a golden cross – when the 50-day ma moves higher through the 200-dma – a bullish chart set-up. GBP/USD has moved nearly two big figures higher since last Monday. The CCI indicator does warn that GBPUSD is becoming overbought.

IG Client Sentimentshows that retail traders are 52% net-long GBP/USD, a bearish contrarian bias. However, daily and weekly sentiment shifts give us a bullish outlook.

GBP/USD Daily Price Chart (April - November 18, 2019)

Sterling Forecast: GBP Rally Stoked by Latest General Election Polls

EUR/GBP at a Fresh Six-Month Low

The currency pair most linked to Brexit, EUR/GBP, continues to set fresh multi-month lows and is closing in on a pair of notable lows. The pair currently trade at 0.8535 and near the May 5 low at 0.8490 which guards the March 13 low at 0.8473. A break and close lower opens the way to the low at 0.8313 made mid-April 2017.

EUR/GBP Daily Price Chart (March – November 18, 2019)

Sterling Forecast: GBP Rally Stoked by Latest General Election Polls

DailyFX Economic Calendar

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 (GBP) – 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