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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/aC5CZqRzxd
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.20% Silver: -0.31% Oil - US Crude: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7rkjdGff4Y
  • Euro May Turn Lower vs. US Dollar as Upswing Falters Below 1.20 - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2021/04/19/Euro-May-Turn-Lower-vs-US-Dollar-as-Upswing-Falters-Below-1.20.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #technicalanalysis https://t.co/30VPCDfO1B
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.28% 🇦🇺AUD: 0.11% 🇳🇿NZD: 0.08% 🇨🇦CAD: 0.03% 🇨🇭CHF: 0.03% 🇪🇺EUR: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LQnZcITyT6
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% France 40: 0.03% FTSE 100: -0.09% US 500: -0.23% Wall Street: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/19eau4SxDU
  • Crude Oil Prices Retreat After Big Rally as Traders Await Fresh Catalysts https://www.dailyfx.com/forex/market_alert/2021/04/19/Crude-Oil-Prices-Retreat-after-Big-Rally-as-Traders-Await-Fresh-Catalysts.html https://t.co/e6PdkgQ2C7
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cvjBS https://t.co/fLokdpFkq0
  • India's Sensex slumps 3% after daily virus cases hit new record - BBG
  • US 10-Year Treasury yields set to continue sliding lower in the near term, after breaching the neckline of a Head and Shoulders pattern. Clearing 1.53% probably paves the way for rates to fulfil the pattern's measured move (1.42), opening the door for #gold to extend gains https://t.co/5RP1EmBiBf
  • Gold Prices Extend Higher on Chinese Demand Boost, Falling Yields https://www.dailyfx.com/forex/market_alert/2021/04/19/Gold-Prices-Extend-Higher-on-Chinese-Demand-Boost-Falling-Yields.html https://t.co/lFYMUZbRkK
British Pound (GBP) Latest: GBP/USD Underpinned by Better-Than-Expected UK GDP Data

British Pound (GBP) Latest: GBP/USD Underpinned by Better-Than-Expected UK GDP Data

Nick Cawley, Strategist

UK GDP and British Pound (GBP) Price Outlook – GBP/USD Chart and Analysis

  • The UK economy fares better-than-expected in January
  • GBP/USD remains supported by the medium-term simple moving average.
Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Nick Cawley
Trading Forex News: The Strategy
Get My Guide

UK gross domestic product (GDP) fell by 2.9% in January, beating market estimates of a 4.9% contraction. The year-on-year figure also beat market estimates, contracting by 9.2% compared to estimates of -10.9% and a prior month’s reading of -6.5%. According to the Office for National Statistics (ONS) the services sector acted as the main drag on growth in January, decreasing by 3.5% as restrictions on activity were reintroduced in response to the coronavirus pandemic.

Sterling remained steady against the US dollar around 1.3950.

British Pound (GBP) Latest: GBP/USD Underpinned by Better-Than-Expected UK GDP Data

For all market-moving news and events see the DailyFX Calendar

GBP/USD is slightly below its best level of the session so far but remains underpinned by a supportive 50-day simple moving average that currently sits at 1.3818. A break above 1.4018 would push the pair back to a two-week high and help strengthen positive sentiment.

Popular Moving Averages and How to Use Them

GBP/USD Daily Price Chart (July 2020 – March 12, 2021)

British Pound (GBP) Latest: GBP/USD Underpinned by Better-Than-Expected UK GDP Data
GBP/USD Mixed
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 0% 0% 0%
Weekly -22% 23% -6%
Learn How to Use Sentiment in Your Trading Strategy
Get My Guide

Retail trader data show 50.21% of traders are net-long with the ratio of traders long to short at 1.01 to 1. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBP/USD price trend may soon reverse higher despite the fact traders remain net-long.

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