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.

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
More View more
GBPUSD Settles at Channel Support

GBPUSD Settles at Channel Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Settles at Channel Support

Prepared by Jamie Saettele, CMT

“The GBPUSD carved out a key reversal (the first bearish one since 2/8/12) which is enough for me to look lower from the current level towards 15600. Channel support comes in at 15560 (in line with the 20 day average).” The GBPUSD made it to 15977 Thursday and is sitting right on channel support. Like the EURUSD, the 3 wave structure of the advance does suggest that a top is in place but 5 waves down from the top would confirm.

LEVELS: 15403 15475 15564 15615 15650 15700

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

DISCLOSURES