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
Bullish
GBP/USD
Mixed
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
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.82%, while traders in USD/CAD are at opposite extremes with 70.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bULTh7GRop
  • The price of #gold climbs to a fresh monthly high ($1681) as the #coronavirus drags on the global supply chain, and the precious metal may exhibit a bullish behavior over the remainder of the month. Get your $XAUUSD market update from @DavidJSong here: https://t.co/h02KVH9bWE https://t.co/cgq8X9gGZ3
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: 1.90% Gold: 1.88% Oil - US Crude: -4.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/oZ1KxQywNr
  • Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Oct 03, 2019 when Wall Street traded near 26,200.30. A contrarian view of crowd sentiment points to Wall Street weakness. https://www.dailyfx.com/sentiment https://t.co/XRLFJCPPtr
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.97% 🇪🇺EUR: 0.13% 🇨🇭CHF: 0.06% 🇦🇺AUD: -0.20% 🇬🇧GBP: -0.27% 🇨🇦CAD: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/EI1p6OLSRi
  • For the $SPX, this week's opening gap is the worst seen since August 1981 https://t.co/fVM4fHIGcB
  • As far as I can tell, this is the sharpest gap lower to start a week for the benchmark Dow since August 1998 https://t.co/YwPwGbGrL3
  • One of the more desired conditions that traders can look for are short-term reversals in price. Candlesticks themselves can help us see some of these potential reversals, with the Pin Bar. Find out how you can incorporate Pin Bars into your strategy here: https://t.co/0RFcb0Rpja https://t.co/vj3XW5aKEv
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: France 40: -0.08% Germany 30: -0.10% US 500: -3.03% Wall Street: -3.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ggfLLMiWGJ
  • US Six-Month Bills Draw 1.440% Primary Dealers Accepted: 48.5% Indirect Bidders Accepted: 45.9% Direct Bidders Accepted: 5.6% B/C Ratio: 3.02
British Pound Reverses Following Test of Prior Week’s High

British Pound Reverses Following Test of Prior Week’s High

2011-02-15 15:38:00
Jsaettele,
Share:

240 Minute Bars

eliottWaves_gbp-usd_body_gbpusd.png, British Pound Reverses Following Test of Prior Week’s High

Prepared by Jamie Saettele

I wrote yesterday that “despite the bounce, additional GBPUSD weakness is expected towards the former 4th wave extreme at 15750 (50 day average is also at 15770). Watch for resistance from the 61.8% retracement of the decline from 16278, which is reinforced by the underside of a former support line and former pivot highs.” After touching last week’s high (16184) the GBPUSD has collapsed and a near term objective is the 100% extension of the 16278-15962 decline, at 15870. A drop below the corrective channel would suggest a deeper drop towards the mentioned 15750.

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

DISCLOSURES

News & Analysis at your fingertips.