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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
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
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 1.33% Wall Street: 0.83% Germany 30: 0.68% US 500: 0.67% FTSE 100: 0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/KCyB86yVTj
  • Heads Up:🇺🇸 Fed Williams Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-24
  • HSBC expect the BoE to raise interest rates by 15bps to 0.25% in May 2022 and 25bps to 0.5% in November 2022 $GBP
  • As the Dollar ($DXY) continues to consolidate after last week's rally, the market's rate forecast via Fed Funds futures (through end 2022) is pricing in most hawkish view since Mar 18, 2020 at 23 bps worth of tightening between now and then https://t.co/ZgknI0hf39
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.85% Gold: 0.27% Oil - US Crude: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5UDOKqOZlT
  • Amazon has been in a fairly consistent range since last August $AMZN over the past week buyers have been driving deeper within resistance zone, ath just above at 3552 https://t.co/Y2BJFHHpsc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.53%, while traders in GBP/JPY are at opposite extremes with 68.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/9wQEDOOqv8
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 0.68% Gold: 0.18% Oil - US Crude: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lMDtC6g5Ns
  • Fed's Harker (2023 voter) - US economy is by and large in good shape - employment remains down significantly
  • As widely expected the Bank of England maintained current monetary policy in a 9-0 vote with the interest rate left at 0.1%.Get your market update from @JMcQueenFX here: https://t.co/qUbCxszHkN https://t.co/koNHrYm8pl
FX Reversals: GBPUSD Breakout Update

FX Reversals: GBPUSD Breakout Update

Walker England, Forex Trading Instructor

Talking Points

  • GBPUSD Opens to Higher Highs
  • Event Risk may Increase Volatility
  • Bearish Reversal Signaled Under 1.6329

GBPUSD 30min Chart

FX Reversals: GBPUSD Breakout Update

(Created using FXCM’s Marketscope 2.0 charts)

Suggested Reading: Trading Intraday Market Reversals

The GBPUSD continues to be in focus this week, with today’s event risk revolving around the conclusion of the Scottish independence referendum. Running into the London close, the GBPUSD has broken to a higher highs over its R4 camarilla pivot. Price is now trading well above the R4 pivot, with breakout traders first focusing on a 1x extension of the camarilla pivot range to a price of 1.6390. If current momentum trends continue, traders may also select to initiate new buy positions.

As in any trading scenario revolving around the news, price may reverse on increased volatility. A move back under today’s R3 range resistance pivot at 1.6299 would signal a strong change in market conditions. Traders would then look at the possibility of a move back to initial price support at 1.6238 and then a further reversal below final support at 1.6208

FX Reversals: GBPUSD Breakout Update

Yesterdays Update

Yesterday, the USDJPY opened the U.S Trading session testing key values of resistance. During the highly anticipated FOMC news event, price quickly broke above R4 resistance at 107.40. Overnight prices rose even further, with the USDJPY now trading over 100 pips higher. To learn more, check out yesterday’s FX Reversal article linked below.

FX Reversals: AUDUSD Reversal Range Update

---Written by Walker England, Trading Instructor

To contact Walker, email instructor@dailyfx.com. Follow me on Twitter @WEnglandFX.

To be added to Walker’s e-mail distribution list, CLICK HERE and enter in your email information.

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

DISCLOSURES