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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.08% 🇪🇺EUR: 0.00% 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.04% 🇦🇺AUD: -0.10% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lTYr3UzRhP
  • RT @DanielGMoss: A ‘second wave’ of #COVID19 cases threatens to hamper #Australia's tentative recovery Uncertainty around the future of fi…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.26%, while traders in NZD/USD are at opposite extremes with 72.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ksJ0N2pq6W
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/F8sLZvRG1q
  • If you missed today's session on IG Client Sentiment where I discussed the outlook for the #DowJones, $AUDUSD and $USDCAD while discussing fundamentals and technicals, check out the recording below and stay tuned for a full report! - https://t.co/2wVxhtItzX
  • Wall Street Futures Update: Dow Jones (+0.213%) S&P 500 (+0.175%) Nasdaq Composite (+0.242%) [delayed] -BBG
  • RT @margaretyjy: Watch my Bloomberg TV interview at 9:00AM Singapore time. Coming in soon! https://t.co/Z6u6offept
  • The Core-Perimeter trading model helps traders understand interactions between global economies, helping to trade the assets embedded in these relationships. Get your market update from @ZabelinDimitri here:https://t.co/dKRAo00lfA https://t.co/jw5uvZBvRx
  • Hello there, traders! It has come to my attention that there have been people pretending to be me on Twitter. If you see anyone doing so, please be sure to report them. My Twitter handle is @ZabelinDimitri. Any variation of that is an imposter. Please spread the word.
  • After approximately 100 votes, it seems that a narrow majority of participants to my poll believe Gold ($GC_F) is going to resolve its congestion with a break lower: https://t.co/NTwXu7ZaGF
FX Reversals: GBPUSD Range Update

FX Reversals: GBPUSD Range Update

2015-08-28 14:14:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The GBPUSD moves lower on GDP Data
  • Today’s range measures 77 pips
  • R4 breakouts begin at 1.5477

GBPUSD 30Minute Chart

FX Reversals: GBPUSD Range Update

(Created using Trading View Charts)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

The GBPUSD has opened lower for the fourth straight US trading session this week. This bearish move began by first testing areas of resistance, near the R3 Camarilla Pivot at 1.5439, then moving lower on GBP Gross Domestic Product data. Despite the news coming in at an expected 2.6%, the GBP failed to rally and soon dropped to support against the USDollar. Today’s value of range support sits at the S3 pivot, found at a price of 1.5362. If prices remain supported, traders may begin looking for the GBPUSD to bounce and reverse back towards values of resistance. Today’s total range measures 77 pips, and a move back to the R3 pivot would suggest at least a temporary end to the previously seen bearish momentum.

In the event that prices do not stay range bound, traders can begin looking for a breakout above the R4 or below the S4 pivot points. A move to either of these points would denote a new higher high, or lower low respectively. A move beyond S4, found at 1.5324, would add a strong technical case for the market to continue trading with the trend. Conversely a move beyond R4, found at 1.5477, would suggest the market may beginning a broader bullish reversal. In either breakout scenario, traders may use the markets chosen direction to place new orders on the GBPUSD.

FX Reversals: GBPUSD Range Update

Are you new to trading active markets with camarilla pivots? Increase your trading education with DailyFX! Get started learning about markets and intraday price reversals HERE.

Once you are ready to get started, register for a FREE Forex demo with FXCM. This way you can practiceyour day trading techniques while watching Forex pairs in real time.

Previous Market Setups

FX Reversals: EURUSD Moves to Support On News

FX Reversals: USDCAD Attempts Early Morning Breakout

FX Reversals: EURUSD Attempts Breakout on News

FX Reversals USDJPY Pre-NFP Range

FX Reversals: EURUSD Breakout Fails

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, pleaseSIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

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

DISCLOSURES

News & Analysis at your fingertips.