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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • EUR/CHF IG Client Sentiment: Our data shows traders are now at their least net-long EUR/CHF since Nov 20 when EUR/CHF traded near 1.08. A contrarian view of crowd sentiment points to EUR/CHF strength.
  • It's US jobs day! We're talking the impact of NFP on FX markets, as well as the taperless tantrum, for the next ~30-minutes. Join now --
  • 🇷🇺 Foreign Exchange Reserves (FEB) Actual: $586.3B Previous: $590.7B
  • 15 MINS: NFP Live - Expectations: 182k - Range: Low -100, Hi 500k Unemployment Rate expected 6.3% - Range: Low 6%, Hi 6.5%
  • Heads Up:🇺🇸 Nonfarm Payrolls Private (FEB) due at 13:30 GMT (15min) Expected: 210K Previous: 6K
  • Heads Up:🇺🇸 Participation Rate (FEB) due at 13:30 GMT (15min) Previous: 61.4%
  • Heads Up:🇺🇸 Average Hourly Earnings YoY (FEB) due at 13:30 GMT (15min) Expected: 5.3% Previous: 5.4%
  • Heads Up:🇺🇸 Average Weekly Hours (FEB) due at 13:30 GMT (15min) Expected: 34.9 Previous: 35
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.19% 🇨🇦CAD: -0.26% 🇪🇺EUR: -0.28% 🇬🇧GBP: -0.44% 🇦🇺AUD: -0.68% 🇳🇿NZD: -0.79% View the performance of all markets via
  • Heads Up:🇺🇸 Average Hourly Earnings MoM (FEB) due at 13:30 GMT (15min) Expected: 0.2% Previous: 0.2%
British Pound (GBP) Latest: Break Higher in GBP/USD Improves Outlook

British Pound (GBP) Latest: Break Higher in GBP/USD Improves Outlook

Martin Essex, MSTA, Analyst

GBP price, Brexit news and analysis:

  • GBP/USD has broken convincingly to the upside from a symmetrical triangle chart pattern, implying that further gains can be expected.
  • The move has come despite a continuing lack of progress in the talks between the UK and the EU on their post-Brexit relationship that resume today.
  • More generally, so-called “risk” assets, including GBP, are continuing to benefit from hopes of a quick economic rally from the slump caused by the coronavirus outbreak.

GBP/USD outlook brightens

GBP/USD is heading for its fifth consecutive session of gains, breaking convincingly above the 1.25 level, reaching its highest level since May 1 and rising above the resistance line of a symmetrical triangle chart pattern in place since March 19. This all implies further gains for the pair despite the turmoil in the US and the ongoing tensions between the US and China.

GBP/USD Price Chart, Daily Timeframe (March 3 – June 2, 2020)

Latest GBP/USD price chart.

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

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -3% -13% -8%
Weekly 13% -10% 1%
What does it mean for price action?
Get My Guide

Talks between the UK and the EU on their relationship after the Brexit transition period resume Tuesday with the two sides still far apart. However, a breakthrough cannot be ruled out and any signs of one would likely strengthen Sterling further.

The British Pound is also benefiting from the ongoing slide in the US Dollar as traders shun safe havens and opt for riskier assets on hopes of a global economic recovery from the coronavirus carnage and continuing monetary stimulus from the world’s central banks.

Meanwhile, data from the Nationwide lender showed UK house prices fell by the most in more than 11 years in May, down 1.7% month/month – the biggest monthly drop since February 2009.

Starts in:
Live now:
Mar 09
( 10:03 GMT )
Recommended by Martin Essex, MSTA
Trading Sentiment
Register for webinar
Join now
Webinar has ended

Like to know how to trade risk-on assets and safe havens in stressed markets? Check out this podcast.

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.