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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • Gold slightly lower as equities, dollar put in mixed sessions $XAU $USD $DXY
  • The $VIX can't continue to trace out this coasting pattern for long. Again, I don't usually throw technical analysis on indicators derived from underlying activity, but VIX has become a trading vehicle in its own right
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.31% Oil - US Crude: -0.08% Gold: -0.32% View the performance of all markets via
  • After a strong breakout this summer, Gold prices have now spent almost six months digesting. Get your $XAUUSD market update from @JStanleyFX here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX:
  • The US Dollar is now trading lower again. After hitting an intraday low around 90.15, the $DXY rebounded to 90.25 but has turned toward again, falling back below 90.20. $USD
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.14% Wall Street: 0.06% US 500: 0.03% Germany 30: 0.02% FTSE 100: -0.00% View the performance of all markets via
  • #Gold is consolidating slightly higher this week, around $1,850, after the precious metal's failed attempt at breaking above the $1,870 level last week. $XAU $GLD
  • US 10yr yields have notably tightened, falling from 1.10% yesterday to trade around 1.04% today. Yields still remain elevated in 2021 compared to earlier in the pandemic. $GOVT $IEF $USD
  • Hey traders! Get your Tuesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇
British Pound (GBP) Latest: GBP/USD Probing Recent Support Levels

British Pound (GBP) Latest: GBP/USD Probing Recent Support Levels

Nick Cawley, Strategist

Sterling (GBP) Price, Chart and Analysis

  • UK chancellor Sajid Javid rules out being a ‘rule taker’ post-Brexit.
  • Sterling also starting to price-in a potential UK interest rate cut next week.

British Pound (GBP) Opens Lower on Disorderly Post-Brexit Trade Talks

Sterling continues to drift lower against a range of other currencies with the mini sell-off fueled by commentary from UK chancellor Sajid Javid over the weekend. Mr. Javid made it quite clear that the UK will not remain in alignment with the EU after January 31 and will not be a ‘rule taker’ from Brussels. In an interview with the Financial Times, the chancellor stressed ahead of upcoming trade talks that “There will not be alignment, we will not be a ruletaker, we will not be in the single market and we will not be in the customs union — and we will do this by the end of the year. The EU has already said that the UK must align with the EU – become a rule taker – as part of any new trade agreement.

GBP Forecast
GBP Forecast
Recommended by Nick Cawley
Download our Brand New Q1 Sterling Forecast
Get My Guide

GBP/USD Price Nears Support Zone as BoE Rate Cut Talk Increases

Cable continues to drift back down to prior support levels as market expectations of a 0.25% UK interest rate cut at the end of January increase. Friday’s worse-than-expected UK retail sales data and dovish commentary from various BoE MPC members have pushed expectations to the extent that a cut is now expected. Various UK data this week will give a better picture of the UK economy with Wednesday’s CBI business trends and Friday’s Markit PMIs the most closely watched. Both these releases are for January and may be decisive either way for Sterling.

For all market moving data releases and events, please see the DailyFX Calendar.

GBPUSD trades either side of 1.2980 with trend resistance of the December 12 spike high at 1.3512 in control of price action. The 1.2950 to 1.2970 level has prompted buying in the past month and may see cable push higher again. Below here, the next level of support is the December 23 low at 1.2904. The current downtrend currently cuts across around 1.3040, while a cluster of recent highs and the 20- and 50-day moving averages block the path up to 1.3120. The CCI indicator suggests that the market is becoming oversold.

GBP/USD Daily Price Chart (April 2019 – January 20, 2020)

GBP/USD Daily Price Chart
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -17% 36% 13%
Weekly -36% 43% 4%
Learn how to use Sentiment in your trading strategy
Get My Guide

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.