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.

Free Trading Guides
EUR/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
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
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
Mixed
GBP/USD
Mixed
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
  • USD/ZAR: A rally from here could be an important tell as to whether the level seen as support previously (17.76) will turn into a point of resistance for sellers to lean against. Get your $USDZAR technical analysis from @PaulRobinsonFX here:https://t.co/TNsQ4JJu6E https://t.co/GMxZj0n8XP
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/j71z9WYeBm
  • My trading video for today: "S&P 500 and $AUDUSD Await Trump China Presser, $EURJPY Climbs on Stimulus" https://www.dailyfx.com/forex/video/daily_news_report/2020/05/29/SP-500-and-AUDUSD-Await-Trump-Statement-EURJPY-Climbs-on-Stimulus.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • Wall Street Futures Update S&P 500: -0.21% Dow Jones: -0.30% NASDAQ 100: -0.12% (delayed) - BBG
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/I2HhrD40vi
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.33% Gold: 0.12% Oil - US Crude: -1.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3wq4zdqxfp
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.22% 🇨🇭CHF: 0.07% 🇪🇺EUR: 0.05% 🇦🇺AUD: -0.08% 🇨🇦CAD: -0.11% 🇳🇿NZD: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XQf8MSJFP6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.13%, while traders in US 500 are at opposite extremes with 79.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qNiQK9ANUG
  • RT @DanielGMoss: Historical comparison of the #ASX200 during the #GFC and the #GreatLockdown may offer a glimpse of what may lie ahead for…
  • Excellent take on the #ASX200 from my colleague @DanielGMoss using historical comparisons to the 2008 GFC. Highly recommend a read below! 👇 https://t.co/aEJq67wBMT
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
Share:

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

News & Analysis at your fingertips.