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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 🇯🇵 Tertiary Industry Index MoM (FEB) Actual: 0.3% Previous: -1.7% https://www.dailyfx.com/economic-calendar#2021-04-20
  • (Special) Canadian Dollar Analysis, Will Momentum Continue? USD/CAD, GBP/CAD, CAD/JPY #CAD $USDCAD $GBPCAD $CADJPY https://www.dailyfx.com/forex/technical/article/special_report/2021/04/20/Canadian-Dollar-Analysis-Will-Momentum-Continue-USDCAD-GBPCAD-CADJPY.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/k9OXz7Xc0G
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UfoNfSgu16
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.44% 🇳🇿NZD: 0.38% 🇨🇦CAD: 0.30% 🇨🇭CHF: 0.05% 🇯🇵JPY: 0.03% 🇬🇧GBP: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LY6p1GMAIY
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (FEB) due at 04:30 GMT (15min) Previous: -1.7% https://www.dailyfx.com/economic-calendar#2021-04-20
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.20% US 500: 0.14% FTSE 100: -0.02% Germany 30: -0.04% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/JfhA2eyx8v
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/KRWQChtT4q
  • The Dollar took out the 50-day moving average to start the week and we are now slipping through the 100 DMA to start Tuesday trade. Watching $USDJPY, GBPUSD and earnings into Tuesday trade https://www.dailyfx.com/forex/video/daily_news_report/2021/04/20/Dollar-Breaks-USDJPY-and-GBPUSD-Technical-Barriers-Earnings-and-Dogecoin-on-Deck.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/w9Wc3qSMtN
  • Australian Dollar Price Outlook: AUD/USD, AUD/JPY, AUD/NZD, AUD/CHF - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2021/04/20/Australian-Dollar-Price-Outlook-AUDUSD-AUDJPY-AUDNZD-AUDCHF.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDNZD $AUDUSD $AUDJPY
  • $AUDUSD, Australian govt. bond yields rising after #RBA minutes They mentioned a 1st step to tapering 'is likely to occur end of June' when TFF is likely to end They also said they may consider extending it amid deterioration in financial system, but signs are currently missing https://t.co/ROgYfwKOub
GBP/USD Declines on Missed Retail Sales Data

GBP/USD Declines on Missed Retail Sales Data

Walker England, Forex Trading Instructor

Talking Points:

The GBP/USD is trading lower to close the week, as GBP Retail Sales figures have come in under expectations. Expectations for today’s news were set at 3.9% (YoY) (Jan) but were released at an actual 2.6%. Next week traders will again be looking towards data to guide the GBP/USD. Wednesday we will see the release of UK GDP figures (YoY) (4Q P) which are expected in at 2.2%.

Technically the GBP/USD is now trending lower in the short term. Today’s decline on missed Retail Sales figures has now placed the pair back below its 10 Day EMA (exponential moving average). As the pair declines, this average which now resides at 1.2479 may be seen as a value of resistance. Traders should note that today’s decline has the GBP/USD trading back in the direction of its long term downtrend. For reference, the 200 Day MVA (simple moving average) can be found at 1.2717.

GBP/USD, Daily Chart with Averages

GBP/USD Declines on Missed Retail Sales Data

(Created Using IG Charts)

Intraday the GBP/USD has fallen significantly below today’s central pivot found at 1.2488. Not only has bearish momentum significantly increased from this point, but the GBP/USD has now broken through the first value of intraday support at 1.2451. If the pair continues to fall, traders will next look for the pair to be supported at the S2 and S3 pivots found at 1.2418 and 1.2382 respectfully. If prices reach 1.2381, it should be noted that the GBP/USD will be trading at new weekly lows.

While prices are trading well below our first value of intraday resistance, it should be mentioned that today’s R1 pivot is found at 1.2522. A rebound to this point would place the GBP/USD back towards yesterday’s close, and may suggest that the pair is consolidating before a larger potential breakout next week.

GBP/USD 30 Minute Chart & Pivots

GBP/USD Declines on Missed Retail Sales Data

(Created Using IG Charts)

Sentiment totals for the GBP/USD remain off of extremes with current SSI readings at +1.64. At its current reading, this implies that 62% of traders are long the GBP/USD, while 38% remain short. When read as a contrarian indicator, this value suggests that the GBP/USD may continue to trend lower. In the event of a further bearish decline next week, traders should look for SSI totals to reach extremes of +2.00 or greater. Alternatively in the event of a bullish reversal, it would be expected to see SSI figures move back towards more neutral readings.

GBP/USD Declines on Missed Retail Sales Data

--- Written by Walker, Analyst for DailyFX.com

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

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

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES