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.

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
EUR/USD
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
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
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
Gold
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
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:https://t.co/QQwAZTxZFg https://t.co/MSOw9DeSxe
  • Wall Street Futures Update: Dow Jones (+0.415%) S&P 500 (+0.417%) Nasdaq 100 (+0.466%) [delayed] -BBG
  • - Trump popularity slowly returning despite a surge of US-based coronavirus cases - Democrats drafting $2.4 trillion aid package as urgency for more stimulus swells - #AUDUSD testing key support at 0.7018 – will a break here accelerate the selloff? https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/24/AUDUSD-at-Key-Support-Trump-Popularity-Edging-Up-Despite-Virus-Spike.html
  • Looks like the #nifty50 is heading for its worst week since early May (-6.08%), over 4 months ago, granted we still have Friday's session left $USDINR has also been climbing lately Might this continue? Stay tuned for a technical special later today! https://t.co/1vdbgAWs0s
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:https://t.co/3UIKmbLIvD https://t.co/vdL3w1KxIZ
  • Australian Dollar Outlook - via @DailyFX: AUD/USD bulls search for support around two-month lows as market sentiment seemingly improves, but the Aussie could remain under pressure as volatility lingers. Full Analysis - https://www.dailyfx.com/forex/market_alert/2020/09/24/australian-dollar-outlook-aud-usd-drops-to-fresh-two-month-low.html $AUDUSD $AUD #FX #Forex #Trading https://t.co/HJqlMqAvt2
  • $USDCNH reversing lower after bursting over 1.5% from the yearly low. Could this be indicative of firming market sentiment? https://t.co/9CDc2Lukuc
  • Heads Up:🇬🇧 Gfk Consumer Confidence (SEP) due at 23:01 GMT (15min) Expected: -27 Previous: -27 https://www.dailyfx.com/economic-calendar#2020-09-24
  • IBEX 35 price action breaks down amid recent market volatility. Get your market update from @FxWestwater here:https://t.co/MX2O5yrAMy https://t.co/po5awA5AZP
  • FTSE Russell says China will be included in global bond index, as widely expected $CNH
British Pound (GBP) Latest: GBP/USD Consolidates, PM Johnson Fears Second Coronavirus Outbreak

British Pound (GBP) Latest: GBP/USD Consolidates, PM Johnson Fears Second Coronavirus Outbreak

2020-05-01 08:04:00
Nick Cawley, Strategist
Share:

British Pound (GBP) and FTSE 100 Prices and Analysis:

Forex for Beginners
Forex for Beginners
Recommended by Nick Cawley
Forex for Beginners
Get My Guide

UK PM Boris Johnson has delayed announcing lockdown unwind measures until next week despite saying that the UK was ‘past the peak’ of the devastating coronavirus. The Prime Minister has pushed back announcing any measures to unwind the current lockdown until next week when he is set to reveal the government’s plans to help re-boot the ailing economy. The PM’s reticence to announce measures earlier stems from his fear that a second wave of COVID-19 could be even more devastating for the UK economy.

GBP/USD Falls Just Short

Sterling bounced late Thursday as month-end portfolio rebalancing saw inflows into the British Pound and outflows from the FTSE 100. GBP/USD also benefitted from a US dollar sell-off and the pair fell just short of breaking the April 14 multi-week high at 1.2648. The GBP/USD short-term uptrend remains in place and it is likely that the pair will consolidate recent gains before making its next move. Thursday’s low of 1.2428 is guarded by the 20-dma, currently at 1.2458, with the weekly low and the 50-dma clustered around 1.2360. Thursday’s high print will need a major driver to be broken.

GBP/USD Daily Price Chart (October 2019 – May 1, 2020)

Chart showing sterling rally against the US dollar
GBP/USD BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 7% -9% -1%
Weekly 11% -10% 0%
Learn How to Use Sentiment in Your Trading Strategy
Get My Guide

The FTSE 100 turned sharply lower Thursday as risk sentiment disappeared. After making a fresh six-week high of 6,211 – just 222 points below the bottom of the gap on the daily chart – the index sold-off sharply and continues to trade lower today. The strong rally off the March 22 low is said to have triggered month-end portfolio rebalancing, while comments overnight that US President Trump is going to ramp up the economic offensive against China have hit risk sentiment. A recent double-low around 5,625, coupled with the 50-dma at 5,668 looks likely as the first area of support. The CCI indicator has fallen sharply from extreme overbought conditions and may temper any further sharp moves lower.

FTSE 100 Daily Price Chart (October 2019 – May 1, 2020)

chart showing ftse 100 falling

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