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
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
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4Cnoc1dk0 https://t.co/NhsMS1EY4b
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/25/SP-500-and-Dollar-Have-Different-Views-for-Last-Week-of-September.html https://t.co/4OBVmrvI7I
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here: https://t.co/JLMDPZKvN8 https://t.co/YbdJnwoqj1
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/hqW38VawJl
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open https://t.co/BKCLJTDk9h
Price & Time: Sterling Misdirection?

Price & Time: Sterling Misdirection?

Kristian Kerr, Sr. Currency Strategist

Talking Points

Get real time volume on your charts for free. Click HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

Price & Time: Sterling Misdirection?

ChartPrepared by Kristian Kerr

  • USD/JPY found support last week at the 3rd square root relationship of the year’s high near 122.45
  • Our near-term trend bias is lower in the exchange rate while below 124.80
  • A move under 122.00 is needed to set off a more important leg lower in the rate
  • A very minor turn window is eyed Tuesday
  • A close above 124.80 would turn us positive again on the pair

USD/JPY Strategy: Like selling tomorrow on strength against 124.80.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/JPY

*122.00

122.45

123.60

124.10

*124.80

Price & Time Analysis: NZD/USD

Price & Time: Sterling Misdirection?

Chart Prepared by Kristian Kerr

  • NZD/USD closed at its lowest level in almost 5-years on Friday
  • Our near-term trend bias is lower in the Bird while below .7000 (closing basis)
  • Traction under A Fibonacci level at .6970 is needed to kick off the next leg lower
  • An important turn window is eyed over the next few days
  • A daily close over .7000 would turn us positive on NZD/USD

NZD/USD Strategy: Like taking profit on short positions into this turn window.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

NZD/USD

.6900

*.6970

.6975

*.7000

.7110

Focus Chart of the Day: GBP/USD

Price & Time: Sterling Misdirection?

Chart Prepared by Kristian Kerr

The daily GBP/USD chart personifies the lack of conviction in the FX market at the moment. Is the broader downtrend about to re-assert itself or is spot about to undergo a deeper upside correction? Given that the pound turned right during a key date last week we had been open to the former, but on Friday the exchange rate closed right on the 61.8% retracement of the late May range. This morning it has turned lower leaving the open the possibility of a broader head & shoulders top and potential primary downtrend resumption. The next few days look important in this regard from a short-term timing perspective. If the broader decline is re-asserting itself here then it should happen fairly quickly. The neckline of the H&S pattern comes in around 1.5250 and this level is obviously now a key pivot with traction below needed to confirm that the pound has turned the corner. A daily settlement back over Friday’s high near 1.5600 would re-focus attention on a re-test of the May high.

To receive Kristian’s analysis directly via email, please SIGN UP HERE.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

This publication attempts to further explore the concept that mass movements of human psychology, as represented by the financial markets, are subject to the mathematical laws of nature and through the use of various geometric, arithmetic, statistical and cyclical techniques a better understanding of markets and their corresponding movements can be achieved.

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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

DISCLOSURES