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.

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
GBP/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
More View more
Real Time News
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/WmRkOUGwlq
  • Recent price action in the US Dollar Index (DXY) casts a bearish outlook for the Greenback as it extends the series of lower highs and lows from earlier this week. Get your weekly USD technical forecast from @DavidJSong here: https://t.co/aQVzoACWEp https://t.co/TBFiTrur0P
  • USD/MXN drops back into its recent range as investors await further guidance from economic data. Get your weekly Mexican Peso forecast from @HathornSabin here: https://t.co/reMgPrFGdF https://t.co/dl6gomcFxF
  • 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: https://t.co/Blrl0uF2Ct https://t.co/KS13JNwlvL
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/bxQ8s8eGjR
  • Australian Dollar plunged for a fifth week but held key downtrend support at the yearly lows. Get your weekly AUD technical forecast from @MBForex here: https://t.co/uyUWYQoYS7 https://t.co/BXid10FYD1
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/eReyYRYOn1
  • Last week’s march higher in EUR/USD may well extend further after Friday’s Eurozone economic statistics that will likely turn the ECB more hawkish on monetary policy. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/EWrJy5LfOF https://t.co/NQj5xCdw9b
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/uDeIMr1Ks4
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/srqRhfdKUd
British Pound (GBP) Latest: GBP/USD Focus on Election, Brexit, Bank of England

British Pound (GBP) Latest: GBP/USD Focus on Election, Brexit, Bank of England

Martin Essex, MSTA, Analyst

GBP price, Brexit news and analysis:

  • Near-term, the results of the US elections will be the principal driver of GBP/USD but traders also need to watch out for developments in the post-Brexit trade talks and on Thursday’s meeting of the Bank of England’s monetary policy committee.
  • Reports suggest that progress is being made in the EU-UK talks, while the BoE will likely increase its bond-buying program.
Advertisement

GBP/USD at the mercy of the US electorate

GBP/USD trading will be dominated short-term by the response of the US Dollar to the US elections but domestic UK factors could be increasingly important as the week progresses.

In particular, the EU-UK talks on their relationship once the Brexit transition period ends on December 31 could at last be making progress, with reports suggesting there could be a breakthrough on the contentious subject of fishing. The US-UK talks are also reported to be making progress and both these developments are potentially positive for GBP/USD after its recent decline.

GBP/USD Price Chart, One-Hour Timeframe (October 20 – November 3, 2020)

Latest GBP/USD price chart.

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

This week’s meeting of the Bank of England’s monetary policy committee is expected to end Thursday with a decision to increase the BoE’s bond-buying program by around £100 billion, taking the total to £825 billion – a potential negative for GBP/USD.

However, if such a decision is reached it could be seen as a clear and timely response to the UK national lockdown due to begin this week and could therefore be welcomed by the markets, helping GBP/USD recover some of the ground lost in recent days and bring the 1.30 level back in sight.

How will the markets react to the US elections? You can find out 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