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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
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
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/iSGErOq12D
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/oIGwwUxkA1
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/UYZKfhgVKI
  • 🇪🇸 Unemployment Rate (Q3) Actual: 16.26% Expected: 15.9% Previous: 15.33% https://www.dailyfx.com/economic-calendar#2020-10-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.88%, while traders in NZD/USD are at opposite extremes with 72.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AkpsGpdS41
  • Heads Up:🇪🇸 Unemployment Rate (Q3) due at 08:00 GMT (15min) Expected: 15.9% Previous: 15.33% https://www.dailyfx.com/economic-calendar#2020-10-27
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.84% Oil - US Crude: 0.44% Gold: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kuo5ryd7Y5
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/1dnrd0aLR1
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇪🇺EUR: 0.13% 🇳🇿NZD: 0.10% 🇨🇭CHF: 0.07% 🇯🇵JPY: 0.05% 🇬🇧GBP: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cfFoLZAXAE
  • S&P 500 Index Perched At Key Support as Fiscal Aid Hopes Evaporate - https://t.co/kCdo3o0CVu #SP500 #SPX #ES https://t.co/mWQcvTqmr5
GBP/USD Revisits 1.6270 Floor After Hanging Man Delivers Dip

GBP/USD Revisits 1.6270 Floor After Hanging Man Delivers Dip

2014-09-26 08:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • GBP/USD Technical Strategy: Sidelines Preferred
  • Hanging Man Follow-Through May Be Limited
  • Cues From Candlesticks On 4 Hour Chart Lacking

GBP/USD has continued to pullback after the appearance of a Hanging Man candlestick warned of a correction for the pair. Recent “messy” price action and a lack of follow-through for recent reversal signals suggests the latest dip may be shallow. A daily close below the 1.6270 floor would be required to indicate a more negative shift in sentiment and a possible revisit of the 2014 lows.

GBP/USD: Stumble Leaves A Hanging Man In Its Trail

GBP/USD Revisits 1.6270 Floor After Hanging Man Delivers Dip

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

Sideways price action on the four hour chart leaves a void of clear directional signals from candlesticks. This suggests awaiting a more constructive setup may prove a more prudent approach to playing the Pound.

GBP/USD: Awaiting Directional Cues From Candlesticks

GBP/USD Revisits 1.6270 Floor After Hanging Man Delivers Dip

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