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
Oil - US Crude
Wall Street
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
  • Vaccine hopes, a Franco-German recovery package proposal, and a Fed that is committed to provide further liquidity has taken some of the shine off the safe-haven US Dollar.Get your market update from @JMcQueenFX here:https://t.co/GeN07sifc0 https://t.co/r8RTJC8bBG
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/3XSyQQShxq
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/rpZihwpSS1
  • Gold Prices Echo US Dollar Drop as Market Mood Improves - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/05/26/Gold-Prices-Echo-US-Dollar-Drop-as-Market-Mood-Improves.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #gold #xauusd #CrudeOil #OOTT
  • EU ready to drop maximalist approach to fisheries negotiations with the UK in the next round of Brexit talks (June 1st-5th), according to sources
  • USDMXN leaning on 50% Fib retracement - lower highs and lower lows still dominant. #usdmxn #mexicanpeso @DailyFXTeam https://t.co/GzYTHx7trp
  • $AUDUSD: empuje alcista en medio de dos fuerzas oponentes #aud #usd #trading https://t.co/jsKHvIOLK7
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.65%, while traders in US 500 are at opposite extremes with 75.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GoPpkxvdpw
  • Heads Up:🇵🇱 Unemployment Rate due at 08:00 GMT (15min) Expected: 5.7% Previous: 5.4% https://www.dailyfx.com/economic-calendar#2020-05-26
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.87% Silver: 1.45% Gold: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/D211ny6ORL
British Pound (GBP) Latest: GBP/USD Risks Remain to the Downside on Latest BoE Talk, UK Sales Data

British Pound (GBP) Latest: GBP/USD Risks Remain to the Downside on Latest BoE Talk, UK Sales Data

2020-05-22 08:27:00
Nick Cawley, Strategist

British Pound (GBP) Forecasts, Charts and Analysis:

  • Economic recovery may take longer than previously expected.
  • BoE not ruling out further QE measures, open minded on negative rates.
GBP Forecast
GBP Forecast
Recommended by Nick Cawley
Get Your Free GBP Forecast
Get My Guide

GBP/USD Back Below 1.2200 on Central Bank Latest

The British Pound is under renewed selling pressure this morning after BoE deputy governor for banking and markets, Dave Ramsden, said that the central bank is keeping ‘our whole tool set under active review’, echoing comments made by other BoE members this week. Ramsden, speaking to Reuters, added that it was perfectly reasonable to have an ‘open mind’ on negative interest rates and that the BoE had ‘quite a lot of headroom’ to buy more UK gilts, leaving the door open for a further increase in the current QE program.

Earlier in the session the latest look at the UK high street painted a bleak picture. Retail sales fell by a record 18.1% in April - following the 5.2 fall in March – with clothes sales down by 50.2% - after having already slumped by 34.9% in the prior month. Online sales continued to soar and were up 30.7% in April. Official UK borrowing figures came in worse than expected, highlighting the impact of COVID-19 on the country's finances.

British Pound (GBP) Latest: GBP/USD Risks Remain to the Downside on Latest BoE Talk, UK Sales Data

GBPUSD has printed a set of lower highs and lower lows over the past four sessions as positive sentiment in the British Pound wanes. Monday’s low at 1.2076 may soon come under pressure if the 38.2% Fibonacci retracement level at 1.2095 fails to hold, leaving further losses down to the 23.6% Fib level at 1.1834 possible. To regain a bullish bias, the pair need to break above a cluster of recent highs, the 50% Fib at 1.2306 ahead of the 20-dma at 1.2312 and the 50-dma at 1.2367.

GBP/USD Daily Price Chart (November 2019 – May 22, 2020)

British Pound (GBP) Latest: GBP/USD Risks Remain to the Downside on Latest BoE Talk, UK Sales Data
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 2% -23% -9%
Weekly -2% 8% 2%
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) – 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.


News & Analysis at your fingertips.