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
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/cP7ZhDHoNA
  • Heads Up:🇨🇳 FDI (YTD) YoY (DEC) due at 07:00 GMT (15min) Previous: 6.3% https://www.dailyfx.com/economic-calendar#2021-01-18
  • Wall Street Futures Update: Dow Jones (-0.133%) S&P 500 (-0.193%) Nasdaq 100 (-0.184%) [delayed] -BBG
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/dPj0seqzQS
  • An upbeat China Q4 GDP reading sent mainland and HK stocks higher, but failed to lift stocks in the rest of Asia: - CSI 300 (+1.20%) - Shanghai Composite (+0.91%) - Hang Seng (+0.65%) - Nikkei 225 (-1.01%) - ASX 200 (-0.78%) - Straits Times (-0.80%)
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 68.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dNtaWoHOAB
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.15% 🇪🇺EUR: -0.04% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.16% 🇦🇺AUD: -0.23% 🇨🇦CAD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/FXFxoaAZph
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.12% Wall Street: -0.16% France 40: -0.17% US 500: -0.24% Germany 30: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/XHqhYhvlBt
  • Gold prices fell as much as 1.2% before paring most losses on Monday. A stronger USD and fading stimulus hopes were among the primary weighing factors. Traders are eyeing US$ 1,807 for near-term support. https://t.co/C3rJwjtzxk
  • US Dollar Bottoming? Smaller Fiscal Stimulus, Earnings, Covid Threaten ASEAN FX https://www.dailyfx.com/forex/fundamental/article/special_report/2021/01/18/US-Dollar-Bottoming-Smaller-Fiscal-Stimulus-Earnings-Covid-Threaten-ASEAN-FX.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gXQFhAXxvp
GBP/USD Trades Lower for 4th Day

GBP/USD Trades Lower for 4th Day

2016-03-23 13:50:00
Walker England, Forex Trading Instructor

Talking Points

  • The GBP/USD Declines for 4th Day
  • Bearish Breakouts Begin Below 1.4090
  • SSI Increases in Value to +1.83

GBP/USD 30 Minute

GBP/USD Trades Lower for 4th Day

(Created using Marketscope 2.0 Charts)

Interested in Learning the Traits of a Successful Trader?Click HERE

The GBP/USD has continued to decline for the fourth consecutive trading day. So far, the pair has declined as much as 93 pips, and is currently trading off the daily low at 1.4134. As price is now trading below today’s S3 Camarilla pivot point at 1.4177, it opens the pair up to breakout again towards new weekly lows. Traders watching for a breakout should continue to monitor the S4 pivot point, which is found at a price of 1.4090. A move below this value would mark the third consecutive bearish breakout for the pair. In this scenario, traders may extrapolate 1X todays 127 pip trading range to find initial targets near 1.3963.

In the event of a bullish reversal, traders will first look for price action to move back inside of today’s pivot range. If prices trade back above the S3 pivot, this will open up the GBP/USD to trade towards values of resistance, which include the R3 pivot point at 1.4261. In this scenario, any previously seen bearish momentum would be considered at least temporarily suspended. It should also be noted that bullish breakouts begin today above 1.4321. A move above this value would be considered significant as it would be the first bullish breakout this week, and open the GBP/USD to test new monthly highs above 1.4503.

SSI (Speculative Sentiment Index) for the GBP/USD is currently reading at +1.83. This value has increased from last week’s reading of +1.37. As SSI continues to increase, when taken as a contrarian signal it suggests that there may be future price declines in store for the GBP/USD. Traders looking for a bullish reversal should continue to monitor SSI. In this scenario, traders should look for the Index to decline back towards more neutral values.

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

See Walker’s most recent articles at hisBio Page.

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

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES