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
Oil - US Crude
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
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
Gold
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • What's the difference between leading and lagging indicators? Find out from @RichardSnowFX here:https://t.co/vGx8HCagF5 https://t.co/j8PEFYbEqr
  • The $USD fell as an improvement in sentiment slowed aggressive capital outflows from emerging markets and #ASEAN economies. What do USD/SGD, USD/MYR, USD/IDR and USD/PHP face next? Find out from @ddubrovskyFX here: https://t.co/3SQYf5Y0Vx https://t.co/lodbsqO94L
  • The $USD may return to the offensive as markets flee to cash amid fears of deep global recession thanks to the still-raging #coronavirus outbreak. Get your US Dollar update from @IlyaSpivak here: https://t.co/g1us4ZbYR5 https://t.co/detT6m6ZKo
  • The #Dow Jones, S&P 500 and #DAX 30 have bounced after aggressive declines. Can this momentum last? Trader positioning seems to be offering mixed signals as technicals point bearish. Get your market update from @ddubrovskyFX here:https://t.co/DdCUyoGSmL https://t.co/NQtbwy5Brg
  • Reports that London-based fund managers have discussed long market closures with the Bank of England are unlikely to bear fruit, but that they happened at all may boost already-crowded haven trades. Get your EUR/CHF market update from @DavidCottleFX here:https://t.co/mernf5MDH3 https://t.co/1rzQT6ClCY
  • $AUD chart positioning suggests prices have set a swing top near the 0.62 figure. Re-engaging the long-term downtrend against $USD may follow. Get your AUD/USD market update from @IlyaSpivak here:https://t.co/OIEDlId6HZ https://t.co/CzqJf3wsgh
  • The $USD could be on the verge of regaining upside momentum against ASEAN FX such as the Singapore Dollar, Indonesian Rupiah and Malaysian Ringgit. Will the Philippine Peso follow? Find out from @ddubrovskyFX here:https://t.co/cBzPejcNHu https://t.co/4fcImOiSzD
  • $NZD chart positioning suggests the downtrend against its US namesake may be resuming but trader sentiment studies flash warning sign for sellers.Get your NZD/USD market update from @IlyaSpivak here:https://t.co/NUHD43A8C9 https://t.co/K7l3Ju0GP0
  • The Federal Reserve has made a powerful statement about its commitment to shoring up offshore $USD funding markets through the #coronavirus spread. Get your market update from @DavidCottleFX here:https://t.co/fLZjxjr4L9 https://t.co/UdRor0d92U
  • The #Euro has dropped through support guiding it higher from late-March lows, suggesting that the end of a corrective rebound has given way to downtrend resumption. Get your $EURUSD market update from @IlyaSpivak here: https://t.co/gpKowYNmGi https://t.co/CY7RuZf91s
British Pound (GBP) Latest: French Official - UK-EU May 'Rip Each Other Apart'

British Pound (GBP) Latest: French Official - UK-EU May 'Rip Each Other Apart'

2020-02-17 09:00:00
Nick Cawley, Analyst
Share:

GBP/USD Price, Chart and Analysis:

  • Sterling little changed despite trade negotiation warning.
  • GBP/USD supported in a holiday-thinned market.

Post-Brexit Trade Negotiations May Get Ugly, Early.

A senior EU official, speaking at a conference in Germany, warned that the EU and UK may ’rip each other apart’ when trade negotiations begin, as both sides look to take the upper hand. French Foreign Minister Jean-Yves Le Drian said that the EU will be a tough negotiator when talks begin in March and that a trade deal between the two sides this year is unlikely. With both the EU and the UK adopting tough negotiating positions, there is a worry that trade talks may stall soon after the start. UK PM Boris Johnson has repeatedly said that the UK will leave the EU, with or without a trade deal at the end of December this year.

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

Sterling opens the week marginally lower across arrange of currencies but moves today are expected to be limited with the most US financial markets closed for President’s Day. GBP/USD trades around 1.3040 with 1.3070 the near-term upside target before 1.3177 comes back into play. Support levels at 1.3000 and 1.2954, with the latter expected to hold in current market conditions.

GBP/USD traders should be aware that there is a raft of UK economic data out on Tuesday and Wednesday this week, while the latest FOMC minutes will be released at 19:00 GMT on Wednesday. For all market moving data and events, see the DailyFX Calendar.

Trading Forex at the News Release

GBP/USD Daily Price Chart (August 2019 – February 17, 2020)

gbpusd price chart
GBP/USD MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 0% -4% -2%
Weekly -2% 28% 11%
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) and the FTSE 100 – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author 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.