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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
  • The #Dollar has bottoming potential, but that is starting to lose weight as it fails to sustain any lift; next week could be a big one for #USD’s near-term outlook. Get your #currencies update from @PaulRobinsonFX here: https://t.co/IifHjik7gM https://t.co/R9b4jdTPnO
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/lW1rqjpy0x
  • I’d like to thank my followers, I just reached 5,000 which is quite a milestone for someone that isn’t a huge fan of the platform. Thank you all very much ❤️
  • Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty. Get your #equities update from @PeterHanksFX here: https://t.co/yH8oTwT3iW https://t.co/tvfrXThyaC
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/Xi9QU3ADPF
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/cQwbeZ6Feq
  • #Oil prices saw a reprieve to the recent selling pressure but remain at risk while below downtrend resistance. Here are the levels that matter on the #WTI technical chart. Get your #commodities update from @MBForex here: https://t.co/CcXsF3JCMH https://t.co/RUmS1cX52v
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/boEI8RuQdC
  • The growth-linked New Zealand Dollar may rise on the upcoming #RBNZ rate decision following rosy economic data. However, downside potential in the S&P 500 could offset $NZDUSD gains. Get your #currencies update from @ddubrovskyFX here: https://t.co/LfCe6C6G3P https://t.co/kUeBxxeaEf
British Pound (GBP) Latest: Sterling on Hold Ahead of AstraZeneca COVID-19 Vaccine Report

British Pound (GBP) Latest: Sterling on Hold Ahead of AstraZeneca COVID-19 Vaccine Report

2020-07-20 08:19:00
Nick Cawley, Strategist
Share:

GBP/USD – Prices, Charts and Analysis:

  • AstraZeneca shares hit a record high ahead of vaccine report.
  • EU/UK trade talks continue with little convergence seen so far.
GBP Forecast
GBP Forecast
Recommended by Nick Cawley
Brand New Q3 Sterling Guides
Get My Guide

Sterling will likely be driven in the short-term by the release of a report in the Lancet medical journal today on the effectiveness of AstraZeneca’s COVID-19 vaccine developed in partnership with Oxford University. The vaccine, AZD1222, is said to produce both the production of antibodies and T-cells and results so far have been described as positive. AstraZeneca’s (AZN) share price continues to push higher and earlier today made another record high ahead of the report. A positive report today would give UK assets a much needed boost as the country continues to battle the economic slump caused by the virus.

AstraZeneca Daily Price Chart (August 2019 – July20, 2020)

British Pound (GBP) Latest: Sterling on Hold Ahead of AstraZeneca COVID-19 Vaccine Report

Chart via IG

EU/UK trade talks resume today in London against a fairly negative backdrop. Neither side has made any concessions in an attempt to break the current deadlock and last week the European Commission began work on a ‘needs assessment’ in the case of no-deal by the end of the year. European Council Charles Michel recently announced a EUR5 billion Brexit fund to help support industries affected by Brexit.

Later today, BoE members Andy Haldane and Silvana Tenreyro will appear before the Treasury Select Committee.

DailyFX Economic Calendar

GBP/USD is little changed in early trade although US dollar weakness is giving the pair a small bid. The pair are currently supported by both the 20- and 50-day moving averages while the longer-dated 200-dma is capping any further upside. GBP/USD needs to break above 1.2686 to regain positive momentum and re-test the June 10 multi-month high at 1.2815.

GBP/USD Daily Price Chart (February – July 20, 2020)

British Pound (GBP) Latest: Sterling on Hold Ahead of AstraZeneca COVID-19 Vaccine Report
How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Nick Cawley
Improve your trading with IG Client Sentiment Data
Get My Guide

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 – 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