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
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
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
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
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/yXomAftdv8 https://t.co/9N3XRViUin
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.61%, while traders in EUR/USD are at opposite extremes with 69.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4I6evWndsv
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/afeXKfZT4K
  • 🇷🇺 Interest Rate Decision Actual: 4.25% Expected: 4.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2020-10-23
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.43% Gold: 0.29% Silver: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/joUZve1zxA
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.44% 🇳🇿NZD: 0.36% 🇨🇭CHF: 0.32% 🇯🇵JPY: 0.20% 🇨🇦CAD: 0.17% 🇬🇧GBP: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/jitwr50kLY
  • Heads Up:🇷🇺 Interest Rate Decision due at 10:30 GMT (15min) Expected: 4.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2020-10-23
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.38% France 40: 1.05% Germany 30: 0.78% Wall Street: 0.26% US 500: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/T1eJUg4Xb4
  • 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/40yHBdRDXx
  • Irish Foreign Minister says the issues that are preventing a Brexit deal being finalised are very much still there $GBP
British Pound (GBP) Latest: Further Losses Probable, No-Deal Brexit Comes Closer

British Pound (GBP) Latest: Further Losses Probable, No-Deal Brexit Comes Closer

2020-09-08 08:05:00
Martin Essex, MSTA, Analyst
Share:

GBP price, Brexit news and analysis:

  • GBP/USD and the GBP crosses will likely suffer further losses as the EU and the UK continue to bicker on their relationship post-Brexit.
  • As a new round of talks begins, the UK is stepping up its no-deal preparations and is reportedly tinkering with the withdrawal agreement already reached.

GBP/USD under downside pressure

Indications that the EU and the UK are moving even further apart in the negotiations on their post-Brexit relationship will likely lead to further losses for GBP/USD and the GBP crosses even though the latest spat could just be posturing, and a deal could yet be reached.

The Brexit talks are underway again in London this week and the UK has set a deadline of October 15 to strike a trade deal with the EU. It has also warned the EU that it is gearing up preparations to leave without a deal.

Moreover, the UK is reported to be planning new legislation to override part of the withdrawal agreement signed in January, and while this turbulent background has already weakened GBP/USD there are few signs yet that a recovery is imminent.

GBP/USD Price Chart, Two-Hour Time Frame (September 1-8, 2020)

Latest GBP/USD price chart.

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

Starts in:
Live now:
Oct 27
( 10:10 GMT )
Recommended by Martin Essex, MSTA
Trading Sentiment
Register for webinar
Join now
Webinar has ended

Moreover, according to data from Reuters, Brexit nerves have boosted GBP/USD implied one-month volatility to 10% for the first time since mid-June. This implies a turbulent few weeks for traders in the pair who must decide whether the latest war of words is just rhetoric, and that a deal will be reached eventually, or whether the current implementation period will end without an agreement.

GBP/USD MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 32% -19% -3%
Weekly -14% 27% 5%
What does it mean for price action?
Get My Guide

If you’re looking for a brief history of trade wars, ours is here

We look at currencies regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

--- Written by Martin Essex, Analyst

Feel free to contact me on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES