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.

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
EUR/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
Oil - US Crude
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
Wall Street
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
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/BK1ezTva9R https://t.co/FpTQ6vUjys
  • The US Dollar may extend gains against the Thai Baht. But, its price action within USD/SGD, USD/PHP and USD/IDR seem to be favoring more range-bound trading conditions. Get your market update from @ddubrovskyFX here:https://t.co/DYCLXAFcCr https://t.co/HSQSmci2Fb
  • The Turkish central bank is on tap tomorrow. You may recall that President Erdogan removed Governor Naci Agbal about a month ago. The benchmark rate is at 19% heading in... https://t.co/GFyKzB3DfF
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-14
  • US CDC meeting on Johnson & Johnson shot finishes without a vote, more data needed - BBG
  • NZD/USD attempts to negate a head-and-shoulders formation after defending the March low (0.6943). Get your $NZDUSD market update from @DavidJSong here:https://t.co/QLYcoTUdCG https://t.co/y5wpl479Av
  • #Bitcoin retreats from all-time highs, down 1.5% on the day #BTC $BTCUSD https://t.co/XUZZmTrhgs
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.22% 🇦🇺AUD: 1.08% 🇪🇺EUR: 0.26% 🇨🇦CAD: 0.12% 🇯🇵JPY: 0.11% 🇨🇭CHF: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GPRmF1Oi8Z
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.35% Gold: -0.48% Oil - US Crude: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gLcl04vcok
  • Fed's Clarida: Before deciding on raising interest rates, we plan to taper
GBP/USD Dojis Highlight Hesitation At Range-Bottom

GBP/USD Dojis Highlight Hesitation At Range-Bottom

Adrian Raymond, Market Strategist

Talking Points

  • GBP/USD Technical Strategy: Pending Long
  • Narrow range between 1.7100 and 1.1710 remains in play
  • Awaiting bullish signals in intraday trade to open longs

GBP/USD continues to keep traders in suspense as the pair wavers within a narrow 70 pip range between 1.7100 and 1.7170. While a Hanging Man warns of a correction, a push lower may be difficult given the close proximity to support. Playing the recent range may offer a better approach than trying to pick a top for the Pound. To this effect the four hour chart offers more timely signals.

GBP/USD: Range Remains In Play

GBP/USD Dojis Highlight Hesitation At Range-Bottom

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

Drilling down to the four hour chart; several Doji formations near 1.7100 denote hesitation from traders to push past the key technical level. The emergence of a bullish pattern would offer a more definitive signal for a push to the range-top at 1.7170.

GBP/USD: Dojis Denote Indecision Near 1.7100

GBP/USD Dojis Highlight Hesitation At Range-Bottom

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES