CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

GBP/USD: Ending close to where it started

Rising volatility has taken price briefly past its key pivot points, but the pound only just bested the greenback.

GBP/USD Technical analysis, overview, strategies, and levels

Yesterday's moves past the 1.32 mark was swiftly undone later in the session on wild FX moves that have been in line with the pair's current technical overview that has been at the mercy of not just fundamental moves, but also the uncertainty that's come with it. Although the US dollar didn’t underperform yesterday and has been a relatively weaker factor, the pound hasn't been that far off and hence limiting gains in GBP/USD's price, with the pound only just besting the greenback to a higher finish in yesterday’s session.

Learn more about forex and forex trading.

IG client* and CoT sentiment for GBP/USD

As a result, retail bias here is also little changed, standing in majority long territory at 57% with any further price gains enticing longs into closing out.

GBP/USD Chart with retail and institutional sentiment

*The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.

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This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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