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Registered Address: 251 Little Falls Drive, Wilmington, DE 19808. FXP is not responsible for any trading decisions taken by persons not intended to view this material. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. This information is made available for informational purposes only. British Pound Watch list Last Updated: 12:18 a.m. Information presented by FXP should be construed as market commentary, merely observing economical, political and market conditions. residents or individuals domiciled in the U.S. Any and all information provided by FXP is not intended for use by U.S. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX Publications Inc., abbreviated herein as FXP, (d.b.a DailyFX) is no longer a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. The most obvious target would be 1.1931.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. The pair one of the majors is also referred to as the cable, referring to the transatlantic telecoms cable laid across the Atlantic Ocean floor as the first GBP USD rates were sent.
However, we would expect a rejection of that level and the downtrend to continue. GBP to USD is one of the world’s oldest established currency pairs, with its origins in the forex markets dating back to the mid-19th century. Given the recent rally in stocks and risk assets, a potential move back to the trendline and 1.2250 is possible in the near term. In addition, it is still below its 100 MA. GBP/USD IG Client Sentiment: Our data shows traders are now net-short GBP/USD for the first time since when GBP/USD traded near 1.27. When looking at technicals on the GBPUSD, we can plot a trendline on the daily chart that the price has so far adhered to. The US dollar’s safe haven status, global economic uncertainty, and the Fed raising rates have resulted in a major bull run for the USD.Īs mentioned, the GBPUSD is in a downtrend following several fundamental and macroeconomic issues impacting risk sentiment and the pound. For example, inflation is a crucial data point to watch at the moment after surging in 2022. These releases give central bankers, the government, traders, investors, economists, and others an idea of the current health of the US economy and, as a result, can cause significant price swings in the USD, depending on their importance at the time. These include payroll data, GDP, retail sales, non-farm payrolls, and much more. The rise in oil prices is tipped by analysts to be supportive of the U.S. Dollar Rally Finds Support from Rising Oil Prices: Bank of America. There are several key economic data releases each month in the US. Live GBP/USD Data and Graphs: Transfer Money Now: U.S. As a result, it has earned the title of “King Dollar.” In addition, this is due to the strength of the USA’s economy and the fact the USD is the reserve currency for international trade. This is because its safe haven status has made it the go-to currency during times of economic instability. Overview: The British Pound against the USD Dollar is one of the oldest and most established currency pairs in the forex markets, its history can be dated. On the other hand, the USD has strengthened significantly in 2022. GBP/USD, EUR/GBP Face Heavyweight Risk Events. As a result, uncertainties about the UK economy and the recent flight to the safe haven of the USD have seen the GBP tumble against the dollar. View live forex rates and prices for commodities, indices and cryptos. While Covid restrictions are long gone, and a trade deal with the EU is now in place, there are still arguments between the UK and EU over one part of the deal.
In addition, Covid restrictions had an adverse effect on the UK economy and other economies around the world. Previously, Brexit and a trade deal between the UK and EU resulted in significant price moves for the GBP, depending on whether the deal and components within the agreement were viewed as positive or negative.
Several factors dictate the price movements of the pound, including Brexit and, more recently, Covid-19 restrictions. The GBP is one of the largest traded global currencies and one of the major currencies.
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