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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Join analyst @DavidJSong at 5:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/2B8CdSgkuq
  • The Aussie sell-off halted at key lateral support this week and puts the focus on a break of this key range. Here are the levels that matter on the AUD/USD weekly chart. Get your $AUDUSD technical analysis from @MBForex here: https://t.co/rU4u1tMlmz https://t.co/QbyxUrDq1a
  • The $JPY market faces a clear disconnect between domestic economic data and monetary policy. What if that were to change? Get your market update from @DavidCottleFX here:https://t.co/4Gr8tLaHvj https://t.co/0eXMv5CTnd
  • #Forex Forecast via @DailyFX: US Dollar Technical Outlook on $DXY, $AUDUSD, $USDCAD, $USDJPY & $EURUSD Full Analysis ⬇️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/11/17/usd-price-us-dollar-chart-forecast-dxy-audusd-usdcad-usdjpy-eurusd.html
  • Further escalation in Hong Kong will likely bode poorly for risk appetite https://t.co/0NjUd3ahBu
  • How should you trade around event risks and what steps can you take to improve your trading psychology? Find out from @JoelKruger, a trading consultant and mentor. Only on Global Markets Decoded. Missed the episode? Read up here:https://t.co/JWIGJk4vKa https://t.co/WB39x4GP99
  • Poll - Does your personality match your #tradingstyle? Vote and find out from @WVenketas here: https://t.co/vREsUIWSJd https://t.co/Ft0ExAmMpq
  • #Dow Jones hits record high, however, central bank liquidity prompts volatility implosion. #FTSE 100 among underperformers with focus remaining on politics. Get your #equities market update from @JMcQueenFX here: https://t.co/EOFleGSeBp https://t.co/ecAyfSUeAM
  • RT @C_Barraud: 🇪🇺 #ECB’s Muller Says More Assets Could Join Stimulus List in Slump - Bloomberg https://t.co/roGEgu0VTQ
  • With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude oil prices? Find out from @JStanleyFX here:https://t.co/O4dgBl47fq https://t.co/OQYqZAYt9S
GBPUSD Technical Analysis: Golden Cross Formed, Volatility Highest Since July 2016

GBPUSD Technical Analysis: Golden Cross Formed, Volatility Highest Since July 2016

2019-03-12 09:15:00
Justin McQueen, Analyst
Share:

GBP Price Analysis and Talking Points:

  • GBPUSD Implied Volatility Surges to Highest Since 2016
  • GBPUSD forms Golden Cross

See our quarterly GBP forecast to learn what will drive prices throughout Q1.

Current Brexit Timetable (Subject to change)

09:30GMTUK Cabinet to meet

11:15GMT - UK Brexit Secretary at the Brexit select Committee

Before 11:30GMT – Attorney General Geoffrey Cox Legal Advice

Early Afternoon - PM May opens the Meaningful Vote debate

19:00GMT - Voting starts

GBPUSD Implied Volatility Surges to Highest Since 2016

Ahead of tonight’s Brexit vote, GBP overnight implied volatility has surged to the highest level since July 2016, having jumped a sizeable 14.5 vols to 29.8 vols. Consequently, the implied move on today’s session for GBPUSD is at 163pips.

GBPUSD OVERNIGHT ATM OPTION

GBPUSD Technical Analysis: Golden Cross Formed, Volatility Highest Since July 2016

GBPUSD Technical Outlook: Golden Cross Formed

Following the sharp reversal in yesterday’s session, GBPUSD has now formed a golden cross (50DMA above 200DMA). As such, bulls are now eying a move towards the YTD peak (1.3350) in which a firm break above could see a move towards the 50% Fib retracement from the 2018 high to 2019 low.

GBPUSD Technical Analysis: Golden Cross Formed, Volatility Highest Since July 2016

TODAY’S TOP STORY

Brexit Latest: Sterling Soars but Brexit Bill Changes Under Scrutiny

GBP TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.