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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • 🇮🇹 Government Budget (2020) Actual: -9.5% Previous: -1.6% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/2v3F0jycr9
  • 🇮🇹 Full Year GDP Growth (2020) Actual: -8.9% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.88% France 40: 1.65% Germany 30: 1.32% US 500: 1.21% Wall Street: 1.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/b4rnm5vtE1
  • Heads Up:🇮🇹 Full Year GDP Growth (2020) due at 11:00 GMT (15min) Previous: 0.3% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Heads Up:🇮🇹 Government Budget (2020) due at 11:00 GMT (15min) Previous: -1.6% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Fed's Barkin says would be disappointed if we didn't see bond yields rise as the outlook improves - WSJ
  • What are some factors affecting the USD this quarter? Get your free forecast here: https://t.co/7G7pWntiyY #DailyFXGuides https://t.co/yxnbYVF3T6
  • 🇮🇹 Inflation Rate YoY Prel (FEB) Actual: 0.6% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Thanks as always @JeremyNaylor_IG https://t.co/WALxUC2Ug8
Sterling (GBP) Continues to Crumble as EU/UK Brexit Talks Hit a Roadblock

Sterling (GBP) Continues to Crumble as EU/UK Brexit Talks Hit a Roadblock

Nick Cawley, Strategist

Brexit Outlook and Sterling (GBP/USD) Price, Analysis and Chart:

  • Brexit trade talks stumbling towards no-deal.
  • Sterling continues to collapse against a range of currencies.
Advertisement

EU/UK post-Brexit trade talks are not going well, according to the latest round of official and sources tweets with UK PM Boris Johnson set to pull out of negotiations sometime today unless the EU move on their demands. The talks are now described as being on a knife-edge with both sides said to be downbeat over the prospects of a deal.

GBP Forecast
GBP Forecast
Recommended by Nick Cawley
Download our Q4 Sterling Forecast
Get My Guide

GBP/USD has fallen by around 2 cents in early trade as traders begin to price-in a no-deal outcome. While the talks are ongoing, there is always a chance that a deal can be struck and that Sterling will rebound, but as we stand the market is starting to price-out a deal.

GBP/USD Daily Price Chart (March - December 7, 2020)

Sterling (GBP) Continues to Crumble as EU/UK Brexit Talks Hit a Roadblock
GBP/USD BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 22% 17% 19%
Weekly 35% -34% -12%
Learn How to Use Sentiment in Your Trading Strategy
Get My Guide

IG client sentiment data show 39.16% of traders are net-long with the ratio of traders short to long at 1.55 to 1.Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current GBP/USD price trend may soon reverse lower despite the fact traders remain net-short.

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.

DISCLOSURES