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
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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • What is market volatility and what does a market event volatility look like? Find out from @PaulRobinsonFX here: https://t.co/vg7w10la3j https://t.co/QpD4VP4vDc
  • The last time the $USDJPY suffered this large of a bearish gap in a bearish slide (this one still nascent), was back in May: https://t.co/hTxfyVFiox
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX! - https://t.co/RgnsklZ2Gl
  • Japanese Yen, US Dollar May Gap Higher as Week Starts on Virus Fears $USDJPY #USD #coronarovirus - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/01/26/Japanese-Yen-US-Dollar-May-Gap-Higher-as-Week-Starts-on-Virus-Fears.html?CHID=9&QPID=917702 https://t.co/RwVEF3rrO6
  • Here is my video to prep for the new trading week: "S&P 500 Tumble Threatens Quiet Bull Channel, #Fed and 4Q #GDP Top Event Risk" https://www.dailyfx.com/forex/video/daily_news_report/2020/01/25/SP-500-Tumble-Threatens-Quiet-Bull-Channel-Fed-and-4Q-GDP-Top-Event-Risk-.html?ref-author=Kicklighter?CHID=9&QPID=917719
  • RT @AFP: #BREAKING Five rockets hit near US embassy in Iraq capital: security source https://t.co/2Brj01kU3R
  • Everyone develops their trading style differently; however, these are two effective strategies for trading $XAUUSD that every trader ought to be aware of: https://t.co/UHmxPVEiQU https://t.co/XrOawSAdqd
  • Wtf https://t.co/BMTxEKoawu
  • RT @kobebryant: Continuing to move the game forward @KingJames. Much respect my brother 💪🏾 #33644
  • Rest in peace to one of the greatest, can't even believe it
Sterling (GBP) Analysis - GBP/USD Rally Continues on Latest Poll Boost

Sterling (GBP) Analysis - GBP/USD Rally Continues on Latest Poll Boost

2019-12-09 10:30:00
Nick Cawley, Analyst
Share:

Sterling Price (GBP) Analysis, Price and Charts

  • Latest Survation poll gives the Conservative Party a 14-point lead.
  • GBP/USD makes fresh multi-month high.

Q4 GBP Forecast and Top Trading Opportunities

GBP/USD – Nearing a Complete Reversal of the March-September Sell-Off

The latest Survation poll of UK voting intentions published Monday shows the UK Conservative party extending its lead over Labour to nearly 14 percentage points, indicating a working majority in parliament for PM Boris Johnson. The Survation poll was the most accurate poll in the 2017 General Election.

This follows on from a weekend Opinium poll for the Observer newspaper that showed the Conservatives holding a 15-point lead. The Guardian newspaper’s poll of polls – an equally-weighted poll of polls over a moving 14-day period – shows the Conservative party with a 10-percentage point lead, ahead of Thursday’s General Election.

Sterling (GBP) Weekly Forecast: British Pound Driving Higher into General Election Week.

Sterling continues to price-in a Conservative government with a working majority and is testing levels against the US dollar last seen in early May. Above here the March high at 1.3382 comes into view, and a print here would see the 14 big figure sell-off seen between March and early-September completely re-traced. Sterling’s downside remains very limited unless the polls prove to be inaccurate and Johnson does not gain a working majority on Thursday.

The latest Commitment of Traders report shows non-commercial accounts reducing their GBP net-short positions as investors boost fresh net-long holdings of Sterling.

US Dollar Longs Extended, EUR/USD Sold Sharply, CAD Selling Reverses – COT Report.

The IG Client Sentiment indicator shows traders are 55% net-short GBP/USD, which normally would give us a bullish contrarian bias. However, recent daily and weekly changes currently give us a mixed outlook for GBP/USD.

GBP/USD Daily Price Chart (February – December 9, 2019)

GBP/USD Price Chart Showing Sterling Rallying Higher

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

News & Analysis at your fingertips.