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 Daily Range is Smallest Since June 2007

GBPUSD Daily Range is Smallest Since June 2007

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Daily Range is Smallest Since June 2007

Prepared by Jamie Saettele, CMT

The scenario that we have focused on in recent days remains valid as long as price is below 15777. That is, the rally from 15267 may be complete with the second half of the corrective rally truncated. Confidence has been low as truncations are rare and is even lower now with price just 70 pips below the key level. Exceeding 15777 would shift focus to the Fibonacci confluence at 15900 (61.8% retracement and 100% extension of the 15267-15777 rally) and the channel line closer to 16000 in the coming weeks.

LEVELS: 15577 15635 15674 15777 15850 15900

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