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.

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
More View more
British Pound (GBP) Latest: GBP/USD Rising, Well Positioned to Climb Further

British Pound (GBP) Latest: GBP/USD Rising, Well Positioned to Climb Further

Martin Essex, MSTA,

GBP price, news and analysis:

  • GBP/USD has nudged above the 1.38 level, gaining from ‘risk on’ sentiment that continues to weaken the US Dollar.
  • Hopes for a global economic recovery and positive US corporate earnings are still outweighing suggestions that the risk rally has been overdone, and that should lift GBP/USD further towards the 1.40 level medium-term.
Advertisement

GBP/USD strength to continue

GBP/USD has nudged above the 1.38 level and its trend higher, prompted by a persistently weak US Dollar, looks to be propelling the pair towards the 1.40 level medium-term – though a correction could occur before that target is reached.

GBP/USD Price Chart, One-Hour Timeframe (January 15 – February 10, 2021)

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 Q1 GBP forecast
Get My Guide

Positive US corporate earnings and hopes for a US economic recovery continue to drive the US Dollar lower despite warnings that the risk rally may now be overdone, benefiting currencies like Sterling.

In recent days, the Pound and the Euro have marched ahead in lockstep, leaving EUR/GBP largely unchanged. GBP/JPY is also moving sideways but GBP/AUD, GBP/NZD and GBP/CAD have all made modest gains over the last couple of days, suggesting independent Sterling strength.

GBP/USD Bullish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 8% 16% 10%
Weekly -6% 50% 6%
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

Interested in trading psychology? We have a guide here

--- 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