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
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
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
Gold
Mixed
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • Bank of Japan Governor Haruhiko Kuroda - Cannot measure impact of #coronavirus yet - Virus likely to hit supply chains, tourism and exports - Will take appropriate measures as necessary but doesn't believe policy measures are needed at this time (BBG)
  • When your girlfriend says she’s visiting the Fed for work: https://t.co/sZjs9aW3eJ
  • The $GBP recoiled from chart resistance against the US Dollar, setting the stage for prices to resume a bearish trend reversal triggered mid-January. Get your market update from @IlyaSpivak here:https://t.co/lVpyZkIfJt https://t.co/zCGq8Kpoqy
  • The Australian Dollar outlook may shift further bearish after $AUDUSD took out key support. This followed a broadly pessimistic day in stocks as the haven-linked US Dollar soared #AUD #USD - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/02/21/Australian-Dollar-Outlook-May-Deepen-Bearish-AUDUSD-Clears-Support.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/bIxUJhwp30
  • Heads Up:🇯🇵 JPY Nikkei Japan PMI Manufacturing (FEB P) due at 00:30 GMT (15min), Actual: N/A Expected: N/A Previous: 48.8 https://www.dailyfx.com/economic-calendar#2020-02-21
  • Anti-risk Japanese Yen edging modestly higher against G10 counterparts with S&P 500 futures turning shyly lower. Exact catalyst is unknown, but fear around #coronavirus may be the culprit.
  • It took a trade deal and aggressive intervening from the Fed in overnight lending markets to get back into positive territory, dare I ask what could it take this time? https://t.co/RVmPUL8KjF
  • RT @Fxhedgers: AIR INDIA CANCELLING FLIGHTS TO CHINA UNTIL JUNE 30, KLM EXTENDING BEIJING AND SHANGHAI SUSPENSIONS UNTIL MARCH 28 - BLOOMBE…
  • Last time we got elevated US-Turkey tension there was a spike in fear about the prospect of an emerging market debt contagion that took a couple of weeks to cool off but equities and commodity-linked FX paid the price in the meantime. https://t.co/Fwzh9uaLOD
  • 🇯🇵 JPY National Consumer Price Index Ex-Fresh Food (YoY) (JAN), Actual: 0.8% Expected: 0.8% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-02-20
GBPUSD: Looking for Opening to Enter Short

GBPUSD: Looking for Opening to Enter Short

2011-09-04 23:51:00
Ilya Spivak, Sr. Currency Strategist
Share:

Strategy: Pending Short

A Hanging Man candlestick marked a swing top in GBPUSD, with prices now pushing lower through support at 1.6248: the intersection of a rising channel bottom at the 38.2% Fibonacci extension level. Sellers are now testing the next downside barrier at 1.6134, the 50% Fib, with a break below that exposing 1.6019. Risk/reward considerations argue against entering short with prices squarely at support and we will remain on the sidelines for now.

GBPUSD_Looking_for_Opening_to_Enter_Short_body_Picture_5.png, GBPUSD: Looking for Opening to Enter Short

To discuss these strategies with other traders, please visit the Candlestick Forum

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.