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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

GBP/USD: Consolidatory moves opposite volatile overview

Price moves relatively sedate following consecutive sessions of big volatility.

GBP Source: Bloomberg

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

There was little difference in terms of performance between the pound and the US dollar, where on the technical side a positive DMI (Directional Movement Index) cross has occurred. GBP/USD's price remained rangebound and thus far has failed to reach either end of its key weekly pivot points. UK data yesterday showed an increase in lending and mortgages, and a slower growth in its money supply. Higher market impacting data awaits, in the form of Q4 GDP (Gross Domestic Product) figures expected to show a modest increase of 1.1%, and a current account deficit that'll narrow.

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GBPUSD TA Source: IG charts

IG client* and CoT sentiment for GBP/USD

In sentiment, retail long bias has dropped from 55% to just 53%, with very little needed at this stage in terms of a price increase to shift its bias to majority short.

GBPUSD sentiment Source: IG charts

GBP/USD Chart with retail and institutional sentiment

GBPUSD chart Source: IG charts

*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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