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
More View more
Real Time News
  • $SPX put in for an impressive midday recovery this past session leaving a large lower wick. The scale of the lower wicks consistently larger than corrections off highs https://t.co/BGkiFUwYsk
  • 🇰🇷 Consumer Confidence (JUL) Actual: 103.2 Previous: 110.3 https://www.dailyfx.com/economic-calendar#2021-07-27
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.53% 🇬🇧GBP: 0.44% 🇨🇭CHF: 0.13% 🇦🇺AUD: -0.32% 🇨🇦CAD: -0.46% 🇳🇿NZD: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/foLJDv5tkA
  • US API Stock Changes Crude -4.728M Cushing -0.126M Gasoline -6.226M Distillate -1.882M #OOTT $CL_F
  • RT @Nadex: The Macro Setup is back! Tune in as @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Stocks lower ahead of big…
  • Heads Up:🇰🇷 Consumer Confidence (JUL) due at 21:00 GMT (15min) Previous: 110.3 https://www.dailyfx.com/economic-calendar#2021-07-27
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.32% Gold: 0.11% Silver: -1.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DKG9ZdR1SB
  • Apple Q3 Earnings Summary: Revenues: $81.43 B vs. $73.30 B est. EPS: $1.30 vs. $1.01 est. $AAPL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.03%, while traders in Wall Street are at opposite extremes with 70.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BH99T78609
  • Google Q2 Earnings Summary: Revenues: $61.88 B vs. $56.23 B est. EPS: $27.26 vs. $19.35 est. $GOOG $GOOGL
Forex Strategy: GBP/USD Short Trade Hits First Target

Forex Strategy: GBP/USD Short Trade Hits First Target

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • We sold GBP/USD at 1.6172 as prices fell having put in a Shooting Star candle, as expected
  • The trade met our first target at 1.6063 (23.6% Fib); the next objective is 1.5941 (38.2% Fib)
  • The stop-loss has been revised to trigger on a daily close above 1.6172

Confirm your chart-based trade setups with the Technical Analyzer.

Forex_Strategy_GBPUSD_Short_Trade_Hits_First_Target_body_Picture_5.png, Forex Strategy: GBP/USD Short Trade Hits First Target

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