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
  • Get your basics right. Find out what is stock market volatility and how you can trade It here:
  • The Japanese Yen continues to be pummeled against most major currencies. Get your weekly Japanese Yen forecast from @HathornSabin here:
  • The US Dollar paused its advance against ASEAN currencies. USD/SGD eyes a key trendline, USD/THB risks stalling, USD/PHP enters consolidation as USD/IDR continues ranging. Get your market update from @ddubrovskyFX here:
  • The economic calendar has its top listings (China GDP among them), but traders would do well to keep tabs on themes like the Fed outlook, an imminent Bitcoin record and lurking China contagion. What I'm watching for next week:
  • Crude oil and coal prices hit fresh levels overnight as supply issues threaten to worsen an already fragile energy situation. Asia is particularly susceptible after regional flooding shuttered coal mine operations. Get your market update here:
  • The Japanese Yen has moved lower across the board and is making multi-year lows against the USD. Will it snap the range, and do the same against EUR? Get your market here:
  • The British Pound has bounced off its low against USD while it’s trapped in wide ranges against the EUR and CHF. How long will GBP be tied to its Continental Europe constituents? Find out here:
  • (Weekly Fundy) Australian Dollar Outlook: AUD/USD Back on the Offensive as Covid Restrictions Ease #AUD $AUDUSD #Covid
  • The Australian Dollar is seemingly back on the offensive as lockdowns ease in Sydney and Melbourne. Improving sentiment may allow AUD/USD to capitalize on rising equities and commodity prices. Get your weekly $AUD forecast from @ddubrovskyFX here:
  • The Dow Jones and S&P 500 appear to be vulnerable as retail traders continue to buy into their pullbacks. This is shown via IGCS, which is typically a contrarian indicator. Get your market update from @ddubrovskyFX here:
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

Martin Essex, MSTA, Analyst

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)

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.

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.