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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.20%, while traders in GBP/JPY are at opposite extremes with 69.96%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OQu3NemWeA
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.08% 🇨🇭CHF: -0.09% 🇦🇺AUD: -0.21% 🇳🇿NZD: -0.28% 🇨🇦CAD: -0.29% 🇬🇧GBP: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/An810rm9x6
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.24% France 40: -0.29% Wall Street: -0.35% US 500: -0.39% Germany 30: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/yplqPaVCJ8
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/Ugv151eibY
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/H2xUrnaSKU
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Uptrend in Focus as #RBA Holds Policy Steady Link: https://www.dailyfx.com/forex/market_alert/2021/03/02/Australian-Dollar-Forecast-AUDUSD-Uptrend-in-Focus-as-RBA-Holds-Policy-Steady.html?ref-author=Westwater https://t.…
  • Overall quiet reaction from $AUDUSD to the #RBA rate decision Most notable update likely has to do with them letting the markets know that they could do more adjustments to bond purchases given rising yields But that may have already been priced in... https://t.co/rol1p1WcAw
  • RBA: Bond purchases brought forward this week to assist market -BBG #RBA
  • RBA: Lending conditions remain sound, important to remain so. Committed to 3-year target, will continue buys as needed -BBG
  • RBA: Board will not raise rates until CPI at target range, global bond yield swings have made other assets volatile. Prepared to make further adjustments to bond buys -BBG #RBA
GBP/USD, EUR/GBP and FTSE 100 Latest - UK Market Webinar

GBP/USD, EUR/GBP and FTSE 100 Latest - UK Market Webinar

Nick Cawley, Strategist

GBP/USD, EURGBP and FTSE 100 – Prices, Charts and Analysis:

  • EU/UK trade talks may weigh on the British Pound is the status-quo remains.
  • US-China relations continue to deteriorate leaving risk assets exposed.
GBP Forecast
GBP Forecast
Recommended by Nick Cawley
Get Your Free GBP Forecast
Get My Guide

A week full of risk events and important data releases will increase market volatility across a range of assets, especially when viewed against a turbulent and fractious political and economic backdrop. Three central bank policy meetings – RBA, BoC and ECB – and US non-farm payrolls will compete for headlines with ongoing US-China headlines and EU-UK trade talks. Risk markets are starting to look fully priced and this could weigh on Sterling and the FTSE 100.

GBP/USD continues to make a short-term pattern of higher lows and higher highs but last week’s run in the pair was primarily due to weakness in the US dollar ahead of month-end portfolio rebalancing. Resistance around the 61.8% Fibonacci retracement at 1.2517 and support likely around 50% Fib retracement at 1.2306. EU-UK trade talk headlines need to be watched closely.

US Dollar Bearish Bets Rise, EUR/USD in Favor – CoT Report

GBP/USD Daily Price Chart (December 2019 – June 1, 2020)

chart showing gbpusd daily price
GBP/USD MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 5% 7% 6%
Weekly 33% -35% -13%
Learn How to Use Sentiment in Your Trading Strategy
Get My Guide

EUR/GBP is fading lower after the pair broke range resistance in mid-May. Fibonacci retracement numbers also in play with short-term resistance around 38.2% Fib at 0.9035, ahead of 0.9055, and support at 50% Fib 0.8891.

EUR/GBP Daily Price Chart (December 2019 – June 1, 2020)

Chart showing eurgbp daily price.

FTSE 100 is facing resistance from another Fibonacci level as well as the bottom of the gap made between March 6 and March 9 between 6,233 and 6,239. A cluster of recent lows between 6,000 and 6,036 and the 20-dma at 6,006 provide the first area of support.

FTSE 100 Daily Price Chart (December 2019 – June 1, 2020)

Chart showing FTSE 100 price

Traders of all levels and abilities will find something to help them make more informed decisions in the new and improved DailyFX Trading Education Centre

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.

DISCLOSURES