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
Subscribe
Please try again
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
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.08% 🇯🇵JPY: 0.07% 🇪🇺EUR: 0.04% 🇦🇺AUD: -0.17% 🇬🇧GBP: -0.23% 🇨🇦CAD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GC3sr4bk5B
  • - Recovery in the US is improving - The increase in Covid cases is concerning, but vaccines give optimism for a return to more normal conditions later this year
  • - Fed bond buying is at a pace "unrelated to magnitude of fiscal deficits" - Low Treasury yields show there is strong global demand for stable and liquid investments
  • Fed Chair Powell: - Too low inflation harms American families and businesses - We do not anticipate high inflation, but have the tools to address pressures if they arise #Fed $USD
  • looking forward to this, webinar starts in an hour. Topics on the radar: 1) USD Q2 Weakness 2) Gold brewing bullish potential? 3) Stonks through initial earnings outlays https://www.dailyfx.com/webinars/643096611 https://t.co/6YNhrv8E31
  • Please join @JStanleyFX at 13:00 EST/17:00 GMT for a webinar on trading price action. Register here: https://t.co/rFhWzz0pIy https://t.co/glXTOZWi5i
  • 🇷🇺 Unemployment Rate (MAR) Actual: 5.4% Expected: 5.6% Previous: 5.7% https://www.dailyfx.com/economic-calendar#2021-04-20
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.16% FTSE 100: 0.11% France 40: -0.00% Wall Street: -0.90% US 500: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7h5ZfhUZAv
  • $Gold pull back didn't quite get back to that area of prior resistance. But a couple of confluent fibo levels have come into play 1763-1766 https://t.co/klQZ7R6n1Z https://t.co/vBpKjqgRvd
  • Heads Up:🇷🇺 Unemployment Rate (MAR) due at 16:00 GMT (15min) Expected: 5.6% Previous: 5.7% https://www.dailyfx.com/economic-calendar#2021-04-20
British Pound (GBP) Latest: Sterling Retains a Bid as Jackson Hole Symposium Comes Into View

British Pound (GBP) Latest: Sterling Retains a Bid as Jackson Hole Symposium Comes Into View

Nick Cawley, Strategist

GBP/USD Price, Chart and Analysis:

  • Cable retains a bid but the US dollar remains the key driver.
  • All quiet on EU/UK trade talks.

Sterling Remains Better Bid But Headwinds Remain

The British Pound refuses to move lower with any short-term dips against a range of currencies being bought. GBP/USD is also getting a push higher from a weak US dollar complex and marginally higher UK bond (Gilts) yields with the 10-year back at a multi-week high. Sterling strength is seemingly pricing-out the UK and the EU not finding common ground and the UK moving to WTO trade terms at the start of 2021, which may leave GBP exposed at these levels.

GBP Forecast
GBP Forecast
Recommended by Nick Cawley
Q3 Sterling Guides
Get My Guide

The main focal point of the week, the Jackson Hole Symposium, starts tomorrow with a speech by Fed chair Jerome Powell. Markets have been pricing-in a dovish outlook from Powell who is expected to say that the central bank may allow above-target inflation in order to get the economy on a more secure footing. Further loosening for longer would keep pressure on the US dollar and provide an uplift for GBP/USD.

For all economic data releases and market-moving events, see the DailyFX Economic Calendar

GBP/USD trades around 1.3150 and is within 25 pips of printing a weekly high. The supportive short-term uptrend remains in place, and the pair are now back above the 20-dma, another positive driver. Support for GB/USD continues to harden around the 1.3050 zone, if trend support is broken, with further short-term support down to 1.3000. The recent multi-month high at 1.3267 is unlikely to come into play ahead of Jerome Powell’s speech. Likely a quiet session ahead with limited price action.

Find Market Turning Points with Support & Resistance

GBP/USD Daily Price Chart (January – August 26, 2020)

British Pound (GBP) Latest: Sterling Retains a Bid as Jackson Hole Symposium Comes Into View
GBP/USD Mixed
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 0% 0% 0%
Weekly -22% 16% -8%
Learn How to Use Sentiment in Your Trading Strategy
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