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
Mixed
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/wSHeU7aRoX
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2.1% Previous: -7.7% https://www.dailyfx.com/economic-calendar#2020-07-13
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2.1% Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2,1% Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.93%, while traders in US 500 are at opposite extremes with 76.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/TRp6GF9snQ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.32% 🇬🇧GBP: 0.27% 🇪🇺EUR: 0.24% 🇨🇭CHF: 0.16% 🇯🇵JPY: 0.09% 🇳🇿NZD: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/O81hxQPBpL
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (MAY) due at 04:30 GMT (15min) Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.31% France 40: 1.23% FTSE 100: 0.94% Wall Street: 0.64% US 500: 0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YSclbAH1mY
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/sBmNFhegO2
  • RT @DanielGMoss: Broad risk-on tilt seen during #APAC trade with the trade-sensitive $AUDUSD following #SP500 futures higher Haven-associa…
British Pound (GBP) Latest: Few Signs Yet of End to GBP/USD Strength

British Pound (GBP) Latest: Few Signs Yet of End to GBP/USD Strength

2020-06-03 08:00:00
Martin Essex, MSTA, Analyst
Share:

GBP price, Brexit news and analysis:

  • GBP/USD continues to rise with other “risk on” assets as hopes persist of a swift and strong global economic recovery.
  • For now there are few signs of the rally coming to an end but there will doubtless be a retracement at some point.

GBP/USD rally continues

GBP/USD continues to rise with other “risk on” assets such as shares, crude oil, the Euro and the Australian Dollar on hopes that central bank stimulus and an easing of coronavirus lockdown restrictions will enable the global economy to recover quickly from the impact of the pandemic.

Moreover, with the pair touching 1.26 in early London trading Wednesday, there are few signs yet of the rally running out of steam despite the street protests in the US and the lack of news so far from this week’s negotiations on the UK-EU relationship after the Brexit transition period.

GBP/USD Price Chart, Four-Hour Timeframe (May 15 – June 3, 2020)

Latest GBP/USD price chart.

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

GBP/USD BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 2% 4% 3%
Weekly -15% 10% -3%
What does it mean for price action?
Get My Guide

There will be a retracement at some time although there is little indication that one is imminent. However, there is one warning signal: as the four-hour chart above shows the relative strength index (RSI) is now above the 70 level that suggests GBP/USD has been overbought.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Martin Essex, MSTA
Improve your trading with IG Client Sentiment Data
Get My Guide

Looking for risk management tips when trading is volatile? Have a listen to our podcast Trading Global Markets Decoded.

--- 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.

DISCLOSURES

News & Analysis at your fingertips.