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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/atvVwOkBBh
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.17% Silver: -0.29% Oil - US Crude: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wIX18CsXWC
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.06% 🇳🇿NZD: -0.13% 🇪🇺EUR: -0.19% 🇨🇦CAD: -0.21% 🇬🇧GBP: -0.32% 🇦🇺AUD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1RgbvSFsvQ
  • 🇨🇭 Current Account (Q1) Actual: CHF 16B Previous: CHF -3B https://www.dailyfx.com/economic-calendar#2021-06-22
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.22% Wall Street: 0.21% France 40: 0.15% US 500: 0.12% Germany 30: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bN9kT6l20O
  • Heads Up:🇨🇭 Current Account (Q1) due at 07:00 GMT (15min) Previous: CHF -3B https://www.dailyfx.com/economic-calendar#2021-06-22
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/nQ8XPAkiGr
  • 🇬🇧 Public Sector Net Borrowing (MAY) Actual: £-24.3B Expected: £-26.1B Previous: £-31.7B https://www.dailyfx.com/economic-calendar#2021-06-22
  • Heads Up:🇬🇧 Public Sector Net Borrowing (MAY) due at 06:00 GMT (15min) Expected: £-26.1B Previous: £-31.7B https://www.dailyfx.com/economic-calendar#2021-06-22
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/er7rtWCEP0
British Pound (GBP) Latest: Sliding Lower as Brexit Day Nears

British Pound (GBP) Latest: Sliding Lower as Brexit Day Nears

Martin Essex, MSTA, Analyst

GBP price, Brexit news and analysis:

  • GBP/USD continues to fall back but remains above support from a trendline that previously provided resistance.
  • With Brexit just two days away, the EU is continuing to take a hard line ahead of UK-EU trade talks that are due to begin on March 3.

GBP/USD sliding towards support

GBP/USD is sliding lower for the sixth successive session but remains above chart support from a trendline joining recent lower highs that previously provided resistance, potentially limiting steep further losses. As the chart below shows, that currently checks in at 1.2973 while, just above it, there is psychological support at the 1.30 level.

GBP/USD Price Chart, Daily Timeframe (November 24, 2019 - January 29, 2020)

Latest GBP/USD price chart.

Chart by IG (You can click on it for a larger image)

The current weakness of Sterling is due largely to global “risk-off” sentiment on concerns that the coronavirus outbreak that began in China could have a negative impact on Chinese, and potentially international, economic growth.

Brexit positioning begins

In the meantime, the EU is continuing to take a hard line ahead of EU-UK trade talks that are due to begin on March 3 and conclude by the year end. Writing in Germany’s Die Zeit weekly, German Foreign Minister Heiko Maas said Wednesday that the UK will have to compromise on issues such as consumer rights and environmental protection if it wants to maintain free access to the EU single market. “By the end of the year, we need to be clear on the shape of our relationship,” he wrote

This session, the European Parliament is expected to approve the terms of the UKs departure from the EU after it debates the Brexit Withdrawal Agreement and backs the UK-EU treaty.

We look at Sterling regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below

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

DISCLOSURES