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
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • Global stocks bounce back from recent pullback as key resistance levels lie ahead. Get your weekly equities forecast from @HathornSabin here:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower. Get your weekly crypto forecast from @nickcawley1 here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here:
British Pound (GBP) Latest: GBP/USD to Drop to April Low?

British Pound (GBP) Latest: GBP/USD to Drop to April Low?

Martin Essex, MSTA, Analyst

GBP price, news and analysis:

  • GBP/USD looks to be heading towards the April 6 low at 1.2166 as traders and investors worry about a possible second wave of coronavirus infections.
  • China, South Korea and Germany have all seen new outbreaks and the World Health Organization has warned that the virus may never go away, prompting a move into safe havens such as the US Dollar.
  • Federal Reserve Chair Jay Powell has also warned of “significant downside risks”.

GBP/USD heading towards support

GBP/USD continues to head lower on concerns about a possible second wave of coronavirus infections that are driving traders and investors away from riskier assets like the British Pound into the relative safety of the US Dollar. New Covid-19 outbreaks in China, South Korea and Germany have raised worries about the virus again just as governments begin to ease restrictions to help boost economic activity.

In addition, the World Health Organization’s emergencies director Dr Mike Ryan has said “it is important to put this on the table: this virus may become just another endemic virus in our communities, and this virus may never go away.” Federal Reserve Chair Jay Powell has chimed in too, arguing that “the path ahead is both highly uncertain and subject to significant downside risks.”

That has left GBP/USD floundering, trading lower within a downward-sloping channel on the charts and with little support evident before the 1.2166 low touched on April 6.

GBP/USD Price Chart, Four-Hour Timeframe (April 3 – May 14, 2020)

Latest GBP/USD price chart.

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

The markets are also waiting with some trepidation for news from this week’s UK-EU Brexit trade talks amid claims that a trade deal with tariffs on goods is not possible within the timeframe. The talks are due to end Friday.

Check out the many different types of forex orders that traders use to manage their trades here.

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.