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. See our updated Privacy Policy here.

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
Wall Street
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
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/lccPTTlvj0
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here: https://t.co/WIKdSesfkJ https://t.co/Fx0qr32xgI
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/IRS9MaA7h8
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here: https://www.dailyfx.com/forex/fundamental/forecast/weekly/CHF/2021/09/18/Gold-Price-Outlook-Hinges-on-Fed-Rate-Decision-Forward-Guidance.html https://t.co/dWWxtErjK0
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/4qxwiJsV1K
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/stMPuq0VXR
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/rws9LHJV3E
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2021/09/18/Japanese-Yen-Forecast-JPY-Crosses-Eye-BoJ-CPI-as-Haven-Flows-Bolster-Yen-Strength.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/FVisZuTP6M
GBP/USD: Cable Drops as Conservative Lead over Labor Fades – YouGov Poll

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

Rich Dvorak, Analyst

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