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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
GBPUSD Trendline and Former Low Intersect Thursday

GBPUSD Trendline and Former Low Intersect Thursday

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Trendline and Former Low Intersect Thursday

Prepared by Jamie Saettele, CMT

“Even those trading from the long side in GBPUSD probably haven’t done that well as each high has seen a sharp pullback. In any case, an important high may be in place at 16062. The divergence is of the reliable type (reliable in that RSI is closer to 60 than 70), short term trendline support has been broken, and the fact that yesterday was the first day of the month increases confidence in a ‘reversal bias’ (see EURUSD).” Expect resistance at 15915/50. The trendline that extends off of the January and March lows intersects with the 3/22 low tomorrow at 15770 and is support.

Bottom Line (next 5 days) – lower

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