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
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
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
Bullish
Gold
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
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
USD/JPY
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
More View more
Real Time News
  • Trump says considering term-limited suspension of payroll tax - BBG
  • RT @FxWestwater: #SP500 Outlook: Options Traders Positioned for New All-Time High w/ @RichDvorakFX via @DailyFX $SPX https://t.co/8WkV…
  • Fed's Mester says there is not much support for going negative on rates - BBG
  • The Pound Sterling could continue its bullish trend if the Bank of England defers NIRP remarks. Get your $GBP market update from @RichDvorakFX here:https://t.co/0qVLWRjqIm https://t.co/IbRF1eBx1w
  • 🇧🇷 Interest Rate Decision Actual: 2% Expected: 2% Previous: 2.25% https://www.dailyfx.com/economic-calendar#2020-08-05
  • White House Chief of Staff Meadows says talks done for the day on stimulus, no consensus reached- BBG
  • Fed's Mester: - More stimulus can be available from forward guidance and bond buying - Downside risks increased from recent virus uptick - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.54% 🇪🇺EUR: 0.52% 🇦🇺AUD: 0.43% 🇳🇿NZD: 0.38% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/gewmUIxsEK
  • The USD is approaching the 92.50 zone, which helped to hold the lows last week. Support or a reversal here puts AUD/USD in an interesting spot for reversals. Get your $USD technical analysis from @JStanleyFX here: https://t.co/mDGCXV26Q7 https://t.co/eAL5wzC3wi
  • Heads Up:🇺🇸 Fed Mester Speech due at 21:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-08-05
GBP/USD: Cable Drops as Conservative Lead over Labor Fades – YouGov Poll

GBP/USD: Cable Drops as Conservative Lead over Labor Fades – YouGov Poll

2019-12-10 22:39:00
Rich Dvorak, Analyst
Share:

BREXIT LATEST – GBP PRICES EDGE LOWER AS YOUGOV POLL PROJECTS CONSERVATIVE MAJORITY OVER LABOR WANES AHEAD OF UK GENERAL ELECTION THIS WEEK

  • The British Pound is coming under pressure owing to a rise in the probability of another hung Parliament after the latest YouGov poll is predicting 20 fewer seats for Conservatives
  • GBP prices dropped to session lows immediately following the UK election poll results with the risk of further Brexit paralysis resurfacing
  • Check out this Brexit Timeline for an overview of how Brexit negotiations have affected the British Pound and broader financial markets

GBP/USD has plunged nearly 100-pips from intraday highs and spot prices are still edging lower in response to the latest YouGov poll which revealed that PM Boris Johnson’s Conservative Party majority over its primary opposition – Jeremy Corbyn’s Labour Party – fell by 20 seats compared to the previous YouGov poll.

CHART OF UK GENERAL ELECTION PREDICTIONS (YOUGOV POLL)

Chart of UK Election Poll Prediction YouGov

*Source: YouGov

Tories are now predicted to champion 339 seats while Labour MPs are estimated to chair 231 seats. This compares to the prior projection of 359 seats and 211 seats respectively. The prospect of another hung Parliament back on the rise as the most recent MRP estimate for the December 12 UK general election results noted a drop in the expected Conservative majority.

GBP/USD PRICE CHART: 15-MINUTE TIME FRAME (DECEMBER 10, 2019 INTRADAY)

GBP Price Chart British Pound Outlook Sours as Brexit Paralysis Risk Resurfaces

The prospect of another hung British Parliament could jeopardize PM Boris Johnson’s ability to deliver Brexit once and for all and threatens to keep exerting downward pressure on GBP price action. Correspondingly, spot GBP/USD is spiking lower and now trading at session lows with the cable currently on pace to finish the day 0.3% lower.

Take a look at thisSterling Forecast & UK General Election Preview for additional insight on where the British Pound might head next.

-- Written by Rich Dvorak, Junior Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

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.