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.

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
EUR/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
Oil - US Crude
Bullish
Wall Street
Bullish
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
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
  • 🇧🇷 Interest Rate Decision Actual: 3.5% Expected: 3.5% Previous: 2.75% https://www.dailyfx.com/economic-calendar#2021-05-05
  • $USDBRL extending its slide following a 75 basis point rate hike from the Brazilian central bank to 3.5% Another 75-bps move was hinted at for the June meeting The pair is trading at its lowest since late April #BRL #Brazil #BCB https://t.co/IyAp9DYCBG https://t.co/9ZSpXRV0g5
  • More from the Central Bank of Brazil: -Rate decision considers activity, employment -Activity has been more positive than expected -Economy should return to normal little by little -Higher energy prices to pressure short-term CPI
  • Brazil central bank decision to raise benchmark rate was unanimous $USDBRL
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 3.5% Expected: 3.5% Previous: 2.75% https://www.dailyfx.com/economic-calendar#2021-05-05
  • The Brazil Central Bank increased its benchmark lending rate 75 bps as expected - pushing it to 3.50%. The announcement came 40 minutes late....
  • S&P 500 still treading water sideways, support rising up. Get your S&P500 market update from @PaulRobinsonFX here:https://t.co/hsxwVM3Op4 https://t.co/fbmKRQZsk9
  • Brazil raises benchmark lending rate 75 basis points to 3.50% -BBG
  • Today's article discusses the revival of the reflation trade and some stocks to watch within. This morning's webinar is attached Read more - https://www.dailyfx.com/forex/market_alert/2021/05/05/Stock-Market-Forecast-for-the-Week-Ahead-Reflation-Trade-Reignited.html?ref-author=phanks&QPID=917701&CHID=9 https://t.co/eTh7zTlvTn
  • AUD/USD higher in a choppy session, however the pair struggled to break beyond 0.7750 $AUDUSD https://t.co/iSK8FxjST7
GBP/USD Consolidates to End Week

GBP/USD Consolidates to End Week

Walker England, Forex Trading Instructor

Market Condition: GBP/USD Pending Daily Breakout

Target 1: 1X Reference 373 Pips

Target 2: 2x Reference 746 Pips

Invalidation: Continued Consolidation

GBP/USD Daily Chart

GBP/USD Consolidates to End Week

(Created using Marketscope 2.0 Charts)

Last week we discussed the emergence of an inside bar on the daily GBP/JPY chart. Today, the GBP/USD is set to close the week with a similar candle pattern. Using Thursdays’ daily high as a reference, resistance for GBP/USD may be found at a price of 1.3476. Support may be found using the reference low at a price of 1.3103. Traders may continue to monitor these values for a potential breakout starting with next week’s open.

Traders should note that Thursday’s reference bar measures 373 pips. Traders may use a 1X extension of this bar to find initial profit targets for either bullish or bearish breakouts. Half of this range, 186.5 pips, may be used to create a 1:2 Risk/Reward ratio for an attempted breakout.

In the event that prices fail to breakout, traders may elect to trade the continued consolidation between the previously mentioned values of support and resistance.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

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

DISCLOSURES