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.

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
Wall Street
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
GBP/USD
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
More View more
Real Time News
  • 🇵🇱 Employment Growth YoY (AUG) Actual: 0.9% Expected: 1.1% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-09-17
  • Heads Up:🇵🇱 Employment Growth YoY (AUG) due at 08:00 GMT (15min) Expected: 1.1% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-09-17
  • Ever wonder if there are other chart types that can be used for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/4KR3Lqon9c
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/vzA2yoDU5P
  • 🇬🇧 Retail Sales ex Fuel YoY (AUG) Actual: -0.9% Expected: 2.5% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-09-17
  • 🇬🇧 Retail Sales YoY (AUG) Actual: 0% Expected: 2.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-09-17
  • 🇬🇧 Retail Sales YoY (AUG) Actual: 0% Expected: 2.7% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2021-09-17
  • 🇬🇧 Retail Sales ex Fuel YoY (AUG) Actual: -0.9% Expected: 2.5% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-09-17
  • Heads Up:🇬🇧 Retail Sales ex Fuel YoY (AUG) due at 06:00 GMT (15min) Expected: 2.5% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-09-17
  • Heads Up:🇬🇧 Retail Sales YoY (AUG) due at 06:00 GMT (15min) Expected: 2.7% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2021-09-17
GBP/USD Risks Larger Rebound as RSI Threatens Bearish Momentum

GBP/USD Risks Larger Rebound as RSI Threatens Bearish Momentum

David Song, Strategist

Talking Points:

- Larger GBP/USD Rebound Favored on Bullish RSI Break

- AUD/USD Clears 0.93330-40 Resistance Ahead of RBA Policy Meeting

- USDOLLAR RSI Falls Back From Overbought, Threatens Bullish Momentum

For more updates, sign up for David's e-mail distribution list.

GBP/USD

Please add a description for the image.
  • Relative Strength Index (RSI) appears to be breaking out of bearish trend as GBP/USD climbs to a fresh weekly high of 1.6604.
  • Need a close above 1.6600-10 (61.8% retracement) for confirmation/conviction for a larger rebound.
  • Nevertheless, the DailyFX Speculative Sentiment Index (SSI) continues to show that retail crowd remains net-long on GBP/USD as the ratio stands at +1.57.

AUD/USD

GBP/USD Risks Larger Rebound as RSI Threatens Bearish Momentum
  • Will look at the broader AUD/USD range as the pair climbs back above former support around 0.9330-40 as the RSI appears to be breaking out of the bearish momentum.
  • Reserve Bank of Australia (RBA) is widely expected to keep the benchmark interest rate at 2.50%; will Governor Glenn Stevens toughen the verbal intervention.
  • Next key topside target comes in around 0.9380 (38.2% retracement) to 0.9390 (38.2% retracement) should we see a close above former support.

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time: In Search of A Low in the Euro Next Week

Sharp CAD Reversal Negates USD/CAD Bull Flag, Stuns EUR/CAD, GBP/CAD

USDOLLAR

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10633.15

10661.43

10630.23

-0.24

109.02%

GBP/USD Risks Larger Rebound as RSI Threatens Bearish MomentumGBP/USD Risks Larger Rebound as RSI Threatens Bearish Momentum

Chart - Created Using FXCM Marketscope 2.0

USDOLLAR(Ticker: USDollar):

  • Seems like the Dow Jones-FXCM U.S. Dollar Index has marked a near-term top at former support; bearish break on RSI to provide confirmation/conviction for larger decline as the oscillator comes off of resistance.
  • Still want to see the USDOLLAR fill the weekly opening gap on a close-basis; will look for a higher-low given recent series.
  • Former resistance around 10,555 (50.0% retracement) to 10,561 (100% expansion) in focus amid the risk for a more meaningful USDOLLAR correction.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

MBA Mortgage Applications (AUG 22)

13:00

--

2.8%

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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

DISCLOSURES