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
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.
  • The Canadian Dollar remains supported amid elevated crude oil prices. Don’t be surprised if the Bank of Canada disappoints aggressive hawkish expectations. Earnings season is a wildcard. Get your weekly Loonie forecast from @ddubrovskyFX here:
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here:
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • 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:
  • The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council. Get your weekly Euro forecast from @MartinSEssex here:
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
British Pound (GBP) Latest - PMIs Warn of Q4 Slowdown, Brexit Talks Continue

British Pound (GBP) Latest - PMIs Warn of Q4 Slowdown, Brexit Talks Continue

Nick Cawley, Strategist

Brexit, Vaccine Talks and GBP/USD Price, Analysis and Chart:

  • UK PMIs in expansion territory but the service sector slows down.
  • Brexit optimism as both sides return to the negotiating table.
  • GBP/USD presses against 1.3100

The latest UK PMIs showed a sharp slowdown in business activity in October, compared to the previous month, due to a ‘much weaker contribution from the service economy’. While all three readings show the economy expanding, ‘the slowdown would have been even more pronounced had it not been for exports rising as overseas customers sought to secure orders before potential supply disruptions as Brexit draws closer’, according to Chris Williamson, the chief business economist at IHS Markit. Williamson expects the UK economy to expand in Q4, but the rate of growth ‘looks to have slowed sharply and the risk of a renewed downturn has risen’.

British Pound (GBP) Latest - PMIs Warn of Q4 Slowdown, Brexit Talks Continue

There is a growing sense of optimism that the EU and UK can come to a post-Brexit trade deal in the next couple of weeks as both sides re-commit to fresh talks, starting today. These talks will continue over the weekend and into next week and beyond with both sides now implying that there could be compromises made to seal a deal. An article in the Daily Telegraph also said that senior figures in the EU’s negotiating team have been told not to leak details of the talks, as it is ‘vital the negotiations are given a last chance for success’.

In other Sterling-friendly news, the Oxford University vaccine trials are showing positive results and according to a University of Bristol report the vaccine ‘successfully produces a strong immune response’. The UK government has already purchased 60 million doses of the Oxford University/AstraZeneca drug which may be available for the vulnerable by the end of the year.

GBP/USD broke back above 1.3100 in early turnover but is now fading lower. The pair continue to be buttressed by Brexit hopes while ongoing US stimulus talks are adding volatility to the US dollar. As yet there is no new stimulus deal although reports suggest that there is a possibility that a deal may be struck, although not before the November 3 presidential election. With ongoing Brexit trade talks and US stimulus discussions, GBP/USD has a pair of heavyweight fundamental drivers in play, and as such caution is warranted.

GBP/USD Daily Price Chart (April – October 23, 2020)

British Pound (GBP) Latest - PMIs Warn of Q4 Slowdown, Brexit Talks Continue

IG client sentiment data show 36.44% of traders are net-long with the ratio of traders short to long at 1.74 to 1. The number of traders net-long is 17.32% higher than yesterday and 27.12% lower from last week, while the number of traders net-short is 16.02% lower than yesterday and 51.58% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise.Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed GBP/USD trading bias.

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.