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
GBP/USD
Bearish
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
More View more
Real Time News
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here: https://t.co/JLMDPZKvN8 https://t.co/YbdJnwoqj1
  • 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/hqW38VawJl
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open https://t.co/BKCLJTDk9h
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here: https://t.co/n0CVWWOJDe https://t.co/0uLjsQ2gwM
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/nfiFAlyYXv
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0unrdT https://t.co/mIsVJ4zTbB
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/hymrumanUY
GBPUSD Price Rattled by Heightened Brexit Fears, European Elections Near

GBPUSD Price Rattled by Heightened Brexit Fears, European Elections Near

Nick Cawley, Strategist

Sterling (GBP) Price and Latest Brexit News

  • Sterling remains weak as Brexit fears increase.
  • GBPUSD ticks higher but resistance likely to hold sway.
  • Client Sentiment remains bearish.

Q2 2019 GBP and USD Forecasts andTop Trading Opportunities

GBPUSD Gains Set to be Capped

UK PM Theresa May is set to put a ‘new, bold offer’ to Parliament next month in an attempt to break the current Brexit gridlock, but according to newspaper reports this offer is already set to fail as it does not contain any new way of solving the Northern Irish backstop problem. And PM may’s week looks set to get worse with the new Brexit Party, headed by Nigel Farage, set to trounce both Conservative and Labour at the European Elections (May 23-26) according to a new Daily Telegraph poll.The new Brexit Party is averaging around 32%, compared to Labour at 21% and the Conservatives at 11%.

Daily Telegraph European Election Polling Intentions

GBPUSD Price Rattled by Heightened Brexit Fears, European Elections Near

DailyFX Economic Calendar

Against this negative backdrop it is difficult to see GBPUSD rising appreciably higher. The pair have opened in positive territory today after a two-week sell-off that saw cable fall from 1.3180 to 1.2714, with short-sellers likely taking profits, but further upside will find resistance from 1.2773 all the way through to 1.2894, the 23.6% Fibonacci retracement level. The January 15 ‘spike low’ at 1.2669 is the next level of horizontal support and this may be aided by the market current ly being in oversold territory, using the CCI indicator.

GBPUSD Daily Price Chart (August 2018 – May 20, 2019)

GBPUSD Price Rattled by Heightened Brexit Fears, European Elections Near

Retail traders are 80.4% net-long GBPUSD according to the latest IG Client Sentiment Data. See how recent daily and weekly positional changes affect GBPUSD and currently give us a stronger bearish contrarian trading bias.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on GBPUSD – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES