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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • USD/JPY attempting to muscle its way higher off session lows with help from these Waller comments (see thread below) $USDJPY $USD #Forex
  • Fed's Waller: - Fed could taper at a faster rate than previous taper - I was in favor of tapering MBS before Treasuries; majority of Committee did not agree
  • Fed's Waller: - We should taper early and quickly to pave way for potential rate hikes in 2022 - Inflation expectations are well anchored
  • Fed's Waller: - Inflation running well above 2% target - If next two jobs reports come in as strong as the last report, Fed can taper by September
  • RT @ZabelinDimitri: Rising Australia-#China tension could compound medium-term bearish outlook for #AUD
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.03% Silver: -0.07% Oil - US Crude: -0.12% View the performance of all markets via
  • The USD Majors are poised within well-defined setups into the open of the month with a host of event risk on tap this week including the RBA & BoE interest rate decisions, NFP and Canada employment. Get your market update from @MBForex here:
  • Bitcoin (BTC), Ethereum (ETH) giving back some of the weekend’s gains. Ethereum/Bitcoin spread makes a break above trendline resistance. Get your cryptocurrency update from @nickcawley1 here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.64%, while traders in France 40 are at opposite extremes with 78.21%. See the summary chart below and full details and charts on DailyFX:
  • Federal Reserve: Responses indicate that bank lending standards have eased notably since 2020
GBP/USD Retraces to Resistance at 1.5136

GBP/USD Retraces to Resistance at 1.5136

Walker England, Forex Trading Instructor

Talking Points

  • The GBP/USD retraces to pivot resistance
  • Range resistance is found at a price of 1.5136
  • Bearish breakouts are signaled below 1.5063

GBP/USD 30Minute Chart

GBP/USD Retraces to Resistance at 1.5136

(Created using TradingView Charts)

The GBP/USD has retraced against its primary trend this morning back to a point of daily resistance. Currently prices are testing the R3 Camarilla pivot, which is found at a price of 1.5136. If resistance holds, traders may take this pullback as an opportunity to join the prevailing trend. In the event that this morning’s bullish momentum reverses, traders may look to target values of support including the S3 pivot point found at a price of 1.5087. If prices do approach the S3 pivot, traders should continue to monitor price action. A bounce from support would suggest continued consolidation; while a lower decline, would open up the GBP/USD to new lower lows.

Today’s S4 pivot point is found at 1.5063. A move below this value would signal the third bearish breakout in the last four trading periods. This would be a strong signal for a continued decline for the pair, and traders would begin looking for the GBP/USD to challenge the weekly lows at 1.5029. Traders using a 1x extension of the previously mentioned range for initial breakout targets, can also project a bearish decline down to a price of 1.5014. Alternatively, bullish breakouts should be considered above 1.5160. A move to this point would be the first bullish breakout in eight trading sessions, and would at least temporarily suggest the end to the current bear trend.

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

See Walker’s most recent articles at his Bio Page.

Do you know the biggest mistake traders make? More importantly, do you know how to overcome the biggest mistake? Read page 8 of the Traits of Successful Traders Guide to find out [free registration required].

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.