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
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
More View more
Real Time News
  • The Canadian Dollar has modestly outperformed the rest of the G10 pack, as the commodity currency finds support from the pick up in oil prices. Get your $USDCAD market update from @JMcQueenFX here: https://t.co/FJ9bVhBr6r https://t.co/xRqpOiMH3K
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.46% Oil - US Crude: 0.28% Gold: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/H77sqToPS8
  • Please join @PeterHanksFX at 11:00 EST/15:00 GMT for your weekly stock market outlook webinar. Register here: https://t.co/KBcZpD43t6 https://t.co/V6ZEBUj1jK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.36%, while traders in Wall Street are at opposite extremes with 72.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IbMbabi8NR
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.41% Silver: 0.22% Gold: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wSkvWlJyM4
  • Gold has been stuck in a holding pattern for the last few days with recent risk-off/risk-on events prompting very little reaction in the precious metal. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/KXzqjx8mU0 https://t.co/hQCwubIV5g
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 0.77% US 500: 0.16% FTSE 100: 0.14% Germany 30: 0.11% Wall Street: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/u03rrXpglC
  • It's FOMC day! Measures of vol have been creeping up the past 48-hours - what does this mean for $DXY, $EURUSD, Gold? We're talking all this and more for the Mid-Week Market Update, starting now: https://www.dailyfx.com/webinars/140187219
  • Bitcoin (BTC/USD) baulks at initial resistance at $41.3k - mkt looks overbought. Second time lucky? #bitcoin #btc @DailyFXTeam https://t.co/KxFqY8gBig
  • 🇨🇦 Core Inflation Rate YoY (JUN) Actual: 2.7% Previous: 2.8% https://www.dailyfx.com/economic-calendar#2021-07-28
US Dollar Recovers But Continued Gains May Be Limited

US Dollar Recovers But Continued Gains May Be Limited

Ilya Spivak, Head Strategist, APAC

THE TAKEAWAY: The US Dollar launched a convincing recovery having found technical support but overall positioning still carries remnants of reversal risk.

Capitalize on Shifts in Market Mood with the DailyFX Speculative Sentiment Index.

US DOLLAR TECHNICAL ANALYSIS Prices recovered from rising trend line support to challenge resistance at 10879, the 23.6% Fibonacci expansion. A break above that exposes the 38.2% level at 10948. Negative RSI divergence continues to warn of ebbing upward momentum however. Trend line support is now at 10793, with a turn below that initially targeting the 23.6% Fib retracement at 10763.

Forex_US_Dollar_Recovers_But_Continued_Gains_May_Be_Limited_body_Picture_5.png, US Dollar Recovers But Continued Gains May Be Limited

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices are consolidating above support in the 1649.60-51.60 area, marked by the 23.6% Fibonacci retracement and the 100% expansion. A break below this barrier initially exposes the 38.2% retracement at 1629.40. Near-term resistance is at 1676.50, the 123.6% expansion, with a reversal above that eyeing the 138.2% mark at 1693.10.

Forex_US_Dollar_Recovers_But_Continued_Gains_May_Be_Limited_body_Picture_6.png, US Dollar Recovers But Continued Gains May Be Limited

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices completed a Bullish Engulfing candlestick pattern above support at 1348.97, the 38.2% Fibonacci retracement level, hinting at gains ahead. Initial resistance is at 1402.11, the 23.6% level, with a break above that targeting the 14.6% Fib at 1434.86 and the May 3 high at 1488.00. Alternatively, a move below support eyes the 50% expansion at 1306.02.

Forex_US_Dollar_Recovers_But_Continued_Gains_May_Be_Limited_body_Picture_7.png, US Dollar Recovers But Continued Gains May Be Limited

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices bounce from support at 93.34, the May 10 low. Near-term resistance is at 96.85 a falling trend line set from mid-September 2012. A bearish Dark Cloud Cover candlestick pattern and negative RSI divergence argue in favor of a downside scenario however. A move below 93.34 initially exposes the May 15 bottom at 93.11.

Forex_US_Dollar_Recovers_But_Continued_Gains_May_Be_Limited_body_Picture_8.png, US Dollar Recovers But Continued Gains May Be Limited

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

DISCLOSURES