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
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
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.14% 🇦🇺AUD: -0.05% 🇨🇦CAD: -0.08% 🇳🇿NZD: -0.13% 🇬🇧GBP: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cSsg7l8b4x
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.05% Wall Street: 0.01% US 500: 0.01% France 40: -0.02% FTSE 100: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CyoJBdYbGT
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: 0.01% Silver: -0.22% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cZeVIxiAJm
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.32%, while traders in NZD/USD are at opposite extremes with 75.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fmCBX0W0w3
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Silver: -0.21% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MBlfthkrSp
  • Heads Up:🇲🇽 Monetary Policy Meeting Minutes due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-11-26
  • What are some key influences Black Friday has on the economy and stock markets? Find out: https://t.co/KIsvaIWZDN https://t.co/NS7o4MrEok
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.06% US 500: 0.04% Wall Street: 0.01% France 40: -0.03% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zTLPlL868T
  • 🇨🇦 Average Weekly Earnings YoY (SEP) Actual: 6.9% Previous: 7.9% https://www.dailyfx.com/economic-calendar#2020-11-26
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.45%, while traders in NZD/USD are at opposite extremes with 74.75%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rb0KHIpnDO
British Pound (GBP) Latest: GBP/USD Hovering Close to 1.30 Amid Brexit Talks

British Pound (GBP) Latest: GBP/USD Hovering Close to 1.30 Amid Brexit Talks

2020-10-28 08:20:00
Martin Essex, MSTA, Analyst
Share:

GBP price, Brexit news and analysis:

  • GBP/USD looks likely to continue to trade around the 1.30 level as the talks between the EU and the UK on their future trade relationship continue.
  • There is caution too ahead of the upcoming US elections amid concerns that the post-Brexit UK will not be a priority for Joe Biden if he becomes the next US President.
Advertisement

GBP/USD in narrow range around 1.30

GBP/USD continues to trade around the 1.30 level and will likely continue to do so near-term as the EU and the UK continue their talks on their trade relationship once the current Brexit transition period ends on December 31. Next Tuesday’s US elections are also a focus on fears that a Joe Biden presidency would not see its relations with the UK as a priority.

GBP/USD Price Chart, One-Hour Timeframe (October 21-28, 2020)

Latest GBP/USD price chart.

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

GBP Forecast
GBP Forecast
Recommended by Martin Essex, MSTA
Download our fresh Q4 GBP forecast
Get My Guide

On the bright side, Irish finance minister Simon Coveney is reported to be still optimistic that a deal can be reached in the next couple of weeks, in time for approval by the European Parliament by the year-end. However, US Presidential candidate Joe Biden is reported to see a post-Brexit UK as not a priority for his administration if he wins the election next Tuesday.

Meanwhile, the UK House of Lords looks set to continue to try to block the Government’s contentious Internal Market Bill that would breach part of the Brexit withdrawal agreement. Note though that it can only delay the legislation, not block it.

GBP/USD BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 11% 3% 6%
Weekly 13% 7% 9%
What does it mean for price action?
Get My Guide

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