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
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
Mixed
Gold
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
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
Bitcoin
Mixed
More View more
Real Time News
  • If you're bullish on 'risk', at least this is a statistical norm for the $SPX that can give a foothold. I wouldn't base my confidence principally on this seasonality average though... https://t.co/5trRmAPl8j
  • LIVE IN 5 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=1338844901231735299&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • China tariffs will go 'even higher' if there is no deal -Trump
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in US 500 are at opposite extremes with 78.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vHfjyXpzm7
  • LIVE IN 15 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=1338844901231735299&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • CAD: The $CAD has pulled off its best levels of the day with the currency tracking oil prices lower after Russia stated that they would not deepen oil production cuts.Get your market update form @JMcQueenFX here: https://t.co/2QSM4XcMNc https://t.co/3GTn1sT9rd
  • Senator Risch says the Senate will be voting on the Hong Kong Bill today at 5pm $USDCNH
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: 0.41% Gold: 0.13% Oil - US Crude: -2.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TMsgbfohhO
  • LIVE IN 30 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=1338844901231735299&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Sounds like “constructive talks” are really bearing fruit... https://t.co/G4BCAFlwXy
British Pound Trendline Support at 16200

British Pound Trendline Support at 16200

2011-05-09 14:48:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Candles

eliottWaves_gbp-usd_body_gbpusd.png, British Pound Trendline Support at 16200

Prepared by Jamie Saettele, CMT

The GBPUSD continues to slip and is now down a 6th consecutive day. There is trendline support from the line that extends off of the December and March lows at 16200 today (4/18 low is at 16165). I am not convinced that the recent top is ‘the top’ as per the lack of divergence with momentum at the high.

Support/Resistance Index (M,W,D) – 0, (2), (3)

Latest Video

Monthly Forecast

Weekly Forecast

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market.  Send requests to receive his reports via email to jsaettele@dailyfx.com.

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

DISCLOSURES

News & Analysis at your fingertips.