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

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

Nick Cawley, Senior Strategist


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

  • Bank of England likely to increase QE by GBP100 billion on Thursday.
  • GBP/USD and FTSE 100 may struggle to move higher.
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A busy week for UK asset traders with important data and key events the likely drivers of any move. In addition, the markets remain in risk-off mode as fears of a second wave of COVID-19 weigh on Sterling and the FTSE 100.

British Pound (GBP) Latest: GBP/USD Facing a Storm of Risk Events

GBP/USD may test the 50-day moving average at 1.2404 as the pair continue their short-term sequence of lower highs and lower lows. The 61.8% Fibonacci retracement level at 1.2517 is worth watching to see if it turns into resistance or support. Macro events will likely drive the next move.

GBP/USD Daily Price Chart (December 2019 – June 15, 2020)

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 3% 1% 2%
Weekly -16% 19% 2%
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GBP/AUD continues to edge higher after the 1.8050 area held for three consecutive days. The risk-on Australian dollar is sliding lower and GBP/AUD may seek to press higher towards the 1.8650 area.

GBP/AUD Daily Price Chart (December 2019 – June 15, 2020)

The FTSE 100 continues to probe support off the 50-day moving average and a close and open below 6,008 may see the 38.2% Fibonacci retracement level at 5,889 come into play in short order. The upside looks capped between the 20-dma at 6,210 and the 50% Fib retracement at 6,233.

FTSE 100 Daily Price Chart (December 2019 – June 15, 2020)

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What is your view on Sterling (GBP) and the FTSE 100 – 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.