Skip to Content
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
More View More
British Pound (GBP) Latest: Vaccine Hopes Lift GBP/USD and FTSE 100

British Pound (GBP) Latest: Vaccine Hopes Lift GBP/USD and FTSE 100

Martin Essex, MSTA,
What's on this page

GBP price, FTSE news and analysis:

  • Hopes that the coronavirus vaccine developed by Pfizer and BioNTech will prove to be the light at the end of the Covid-19 tunnel are boosting both Sterling and the major London-listed shares.
  • GBP/USD and the FTSE 100 index are both benefiting, while EUR/GBP is weakening.
  • After three days of climbs, riskier assets will no doubt suffer from profit-taking at some point, but for now the trends look set to continue.

GBP/USD price up, EUR/GBP down

The Pound is strengthening against both the US Dollar and the Euro as market sentiment improves for a third successive day, boosted by hopes that the coronavirus vaccine developed by Pfizer of the US and BioNTech of Germany will curb the Covid-19 pandemic and bring about a global economic recovery.

Some profit-taking will doubtless emerge eventually but for now the trend higher remains firmly in place.

GBP/USD Price Chart, One-Hour Timeframe (November 2-11, 2020)

Latest GBP/USD price chart.

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

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

In the stock markets, shares in so-called value stocks that have suffered from the pandemic – in areas such as banking, energy and travel – are in demand while momentum stocks – like Netflix and Amazon – that have benefited from the pandemic are falling.

As the FTSE 100 is packed with value stocks it is continuing to gain ground on this rotation and looks well placed to move higher still.

FTSE 100 Price Chart, One-Hour Timeframe (November 2-11, 2020)

Latest FTSE 100 price chart.

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

FTSE 100 Mixed
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -11% 7% 4%
Weekly 3% 1% 1%
Learn how to use sentiment in your trading strategy
Get My Guide

US-UK trade talk hopes

In other news, a phone call between UK Prime Minister Boris Johnson and US President-elect Joe Biden appears to have gone well despite Biden’s insistence that the UK Government protects the peace process in Northern Ireland and the Good Friday Agreement that ended most of the violence there.

This suggests that a US-UK trade deal may not be as far away as had been feared and could be another factor to benefit UK assets generally, particularly as the UK House of Lords has slowed down the controversial Government legislation that would overrule parts of the UK’s Brexit agreement with the EU, breaking international law in the process.

Note, though, that this week looks likely to be another crucial one in the EU-UK trade talks and headlines from those negotiations are a clear risk for Sterling and FTSE bulls and bears alike.

We look at markets 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.