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
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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
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
Bearish
More View more
Real Time News
  • 🇦🇺 AUD CBA Australia PMI Services (NOV P), Actual: 49.5 Expected: N/A Previous: 50.8 https://www.dailyfx.com/economic-calendar#2019-11-21
  • Australia's November PMI readings slip back into contractionary territory with the Composite at 49.5 after last month's 50.0. Not a good start to our global GDP update today
  • 🇦🇺 AUD CBA Australia PMI Composite (NOV P), Actual: 49.5 Expected: N/A Previous: 50.0 https://www.dailyfx.com/economic-calendar#2019-11-21
  • 🇦🇺 AUD CBA Australia PMI Mfg (NOV P), Actual: 49.9 Expected: N/A Previous: 50.0 https://www.dailyfx.com/economic-calendar#2019-11-21
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.14% 🇯🇵JPY: -0.00% 🇬🇧GBP: -0.13% 🇨🇭CHF: -0.22% 🇳🇿NZD: -0.24% 🇦🇺AUD: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3FlqOFT4fk
  • @PeterHanksFX @DailyFXTeam Who doesn’t like a good Spongebob meme? Especially when it’s used to explain a cross-Atlantic trade war
  • @ZabelinDimitri @DailyFXTeam I'll never not like a spongeBob meme
  • "US President Donald Trump weighing new trade probe to justify levying tariffs on EU, reports Politico" - @DailyFXTeam Looks like this meme is still reusable https://t.co/mIjHitmAk5
  • Heads Up:🇦🇺 AUD CBA Australia PMI Composite (NOV P) due at 22:00 GMT (15min), Actual: N/A Expected: N/A Previous: 50.0 https://www.dailyfx.com/economic-calendar#2019-11-21
  • Heads Up:🇦🇺 AUD CBA Australia PMI Services (NOV P) due at 22:00 GMT (15min), Actual: N/A Expected: N/A Previous: 50.1 https://www.dailyfx.com/economic-calendar#2019-11-21
FOREX Technical Analysis: GBP/USD Resistance is Just Above 15900

FOREX Technical Analysis: GBP/USD Resistance is Just Above 15900

2012-11-16 01:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_GBPUSD_Resistance_is_Just_Above_15900_body_gbpusd.png, FOREX Technical Analysis: GBP/USD Resistance is Just Above 15900

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: “The clearest pattern in recent history is the 3 wave advance from 15913 to 16174 (first day of the month high). 3 wave moves indicate countertrend moves and in this case suggest that the trend is down.” Now that 15913 has been broken (origin of the 3 wave advance), focus shifts to where the GBP/USD may find the next support. 15777 is a popular candidate. This level is former resistance, 50% retracement and 100% extension of decline from the top.

FOREX Trading Strategy: “I remain bearish. Risk is moved down to 15960. The objective is still 15780. Exceeding 15960 would create overlap with the decline from 16174 and suggest that the decline from that point is not impulsive.” Given the USDOLLAR and EURUSD pictures, don’t be surprised to see a test of 15915.

LEVELS: 15754 15780 15825 15915 15957 16019

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

DISCLOSURES

News & Analysis at your fingertips.