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
Wall Street
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
More View more
Real Time News
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link:…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average...
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
  • Selling pressure strengthening in Wall Street two hours before the close. S&P 500 down roughly 1% intraday, the largest decline since August 18th #trading $SPX $SPY
  • One of the strongest correlation with Bitcoin at the moment is the US 10-Year Treasury yield
  • Aside from the rising uncertainty in China over Evergrande default risks, two central bank decisions will dominate the market theme next week. Get your market update from @JMcQueenFX here:
  • RT @BrendanFaganFx: 79 counterparties take $1.218 trillion at Fed's fixed-rate reverse repo $USD $DXY
  • While the #AUDUSD downtrend seems to have tentatively resumed already, the reasons for it to continue that are described here still look valid
British Pound Latest (GBP) - EU Gives UK Brexit Ultimatum

British Pound Latest (GBP) - EU Gives UK Brexit Ultimatum

Justin McQueen, Strategist

GBP/USD, EUR/GBP Price Analysis & News

  • UK GDP Broadly In-Line With Expectations
  • EU Gives UK Ultimatum
  • EUR/GBP Benefits from the Best of Both Worlds

UK GDP: UK growth for July is broadly in line with expectations, albeit slightly on the softer side. For July, GDP grew 6.6%, in which the ONS reported that while UK GDP may be 18.6% higher than its April low, the UK still has to make up half of the GDP lost since the start of the pandemic. In reaction to the GDP report, the Pound saw a muted reaction on the whole. That said, going forward, in light of fiscal measures, namely the “eat out to help out” scheme, expectations are for a strong set of August figures.

UK Economic Data

British Pound Latest (GBP) - EU Gives UK Brexit Ultimatum

Source: Refinitiv, DailyFX

EU Gives UK Ultimatum: Political uncertainty and the repricing of no-deal Brexit risks has been the main driver behind a tough week for the Pound, which has plummeted from above 1.32 to briefly trading below 1.28. As the UK looks to pass the Internal Market Bill (IMB) through parliament in the coming weeks, trust between the UK and EU has arguably hit an all-time low in this Brexit saga with the EU giving the UK an ultimatum. Either withdraw the bill by the end of the month or face possible legal action if not.

With that said, in the absence of amendments, the passing of the bill in its current form will materially increase the odds of a no-deal Brexit and thus pave the way for further losses in the Pound. This sentiment has been reflected in the options market as premiums for downside protection soars. On the technical front, the line in the sand for a move lower sits at 1.2735, which marks the 200DMA, failure to hold and 1.25 beckons.


British Pound Latest (GBP) - EU Gives UK Brexit Ultimatum

Source: Refinitiv

Best of Both World’s for EUR/GBP, But Above 0.9300 is Tough to Hold

The move lower in the Pound had been further compounded by the surge in EUR/GBP which posted its 2nd best day this year rising over 1.6%. The cross benefitting from the best of both world’s of Brexit uncertainty and the ECB’s surprising calmness over the appreciation in the Euro, subsequently giving the all-clear for Euro bulls. That said however, with EUR/GBP rising to its highest level since the COVID crash, rising to 0.9270, the typical nature of the cross since Brexit has been one of which where EUR/GBP has failed to sustain a move above 0.9300, despite some analysts emerging with parity calls again.


British Pound Latest (GBP) - EU Gives UK Brexit Ultimatum


10 Most Popular Candlestick Patterns

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