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.



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
More View more
Real Time News
  • RT @RiskReversal: A pretty hot @MacroSetup this week, brought to you by @Nadex and @openexc. @GuyAdami & I warn the young, but mighty @CVec…
  • RT @Nadex: The Macro Setup is back! CNBC’s @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Evergrande vol hurts everlong…
  • Japanese #Yen Forecast: $USDJPY Breakout Imminent- #FOMC Levels -
  • RT @BrendanFaganFx: 78 counterparties take $1.240 trillion at Fed's fixed-rate reverse repo $USD $DXY
  • here we go - starting right now
  • SEC Chair Gensler: - Working with Congress on crypto would help - A large number of crypto investors could be harmed
  • Pre-FOMC US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY
  • The big question is whether the Fed announces taper tomorrow or whether they punt that announcement to the November rate decision, waiting for employment data to improve to the point of ‘significant further progress. More market update from @JStanleyFX :
  • SEC Chair Gensler: - The market is in a better position to absorb global shocks - Securities rules give the SEC great power over crypto
  • feels like we haven't had one of these in quite a while Pre-FOMC Price Action Setups, starting right at 1pm, top of the hour 1. USD PA setups 2. Evergrande worries 3. Stonks - fly or die?
British Pound (GBP) Latest: EUR/GBP Outlook Poor, GBP/USD Stable

British Pound (GBP) Latest: EUR/GBP Outlook Poor, GBP/USD Stable

Martin Essex, MSTA, Analyst

GBP price, news and analysis:

  • GBP/USD continues to trade sideways, close to the 1.24 level.
  • However, the recent slide lower in EUR/GBP persists and that downtrend could well go further even as markets generally stabilize Thursday ahead of US jobs data.

EUR/GBP trending lower

Global financial markets are showing signs of calming down Thursday ahead of US weekly employment data expected to show another huge rise in jobless claims. That is having a calming influence on GBP/USD, which continues to trade close to the 1.24 level, as it has all this week so far. The FTSE 100 index of leading London-listed stocks looks more stable too.

However, the slide lower in EUR/GBP, which began in mid-March, could well persist. So far, that slide has taken the pair down from almost 0.95 to just below 0.88 and there is now little long-term support ahead of the lows around 0.83 recorded in mid-February.

EUR/GBP Price Chart, Two-Hour Timeframe (March 19 – April 2, 2020)

Latest EUR/GBP price chart.

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

As the chart above shows, EUR/GBP is not yet oversold, with the relative strength index well above the 30 figure that points to an oversold market. However, the price has now fallen below the 20-day moving average and there should be some short-term support from the 50-dma, currently at 0.8717.

How to Invest During a Recession: Investments & Strategy

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.