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
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
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
More View more
Real Time News
  • EUR/JPY Forecast: Euro vs JPY Price Flirts With 120.00 Threshold More details in the link: https://www.dailyfx.com/forex/technical/home/analysis/eur-jpy/2020/06/01/EURJPY-Forecast-Euro-vs-JPY-Price-Flirts-With-120.00-Threshold-MK.html?CHID=9&QPID=917714 https://t.co/Hh9ZAi5YX4
  • 🇲🇽 Markit Manufacturing PMI Actual: 38.3 Previous: 35 https://www.dailyfx.com/economic-calendar#2020-06-01
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.73% Gold: 0.30% Oil - US Crude: -0.96% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yeKhOfigUX
  • Heads Up:🇲🇽 Markit Manufacturing PMI due at 14:30 GMT (15min) Previous: 35 https://www.dailyfx.com/economic-calendar#2020-06-01
  • The Nasdaq 100 is approximately the equivalent of one-day ATR (10-day average) from record highs
  • 🇺🇸 ISM Manufacturing Prices Actual: 40.8 Expected: 36 Previous: 35.3 https://www.dailyfx.com/economic-calendar#2020-06-01
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.69%, while traders in US 500 are at opposite extremes with 76.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xsbXZjItmR
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 1.61% Gold: 0.29% Oil - US Crude: -1.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/l6nQsHDCAW
  • 🇺🇸 Markit Manufacturing PMI Final Actual: 39.8 Expected: 39.8 Previous: 36.1 https://www.dailyfx.com/economic-calendar#2020-06-01
  • GBPUSD currently trades either side of 1.2400, continuing last week’s push higher. Get your $GBPUSD technical analysis from @nickcawley1 here: https://t.co/PIzd1KlcMC https://t.co/AXo8x8qr07
GBP/USD Trades Sub 2012 Lows

GBP/USD Trades Sub 2012 Lows

2013-02-20 22:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Weekly Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBP/USD Trades Sub 2012 Lows

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: “The 4 year trendline is broken and focus is on the 2012 low at 15232…and potentially much lower. The short term trend is considered down as long as price is below the Monday high of 15508. Exceeding that level could trip stops up to 15570/80. Given the significance of the trendline break, one should be aggressive with objectives. The downward sloping channel is a potential reference point and measured levels don’t begin until the mid-14000s.” The 2012 low has given way thus focus is on the mentioned channel. However, today’s range is a large range day (largest in 60 days) which raises the possibility of capitulation. Resistance is 15320.

FOREX Trading Strategy: Look lower as long as price is below 15450. Levels of interest are 14950 (intramonth July 2010 pivot) and 14850 (61.8% retracement of 13500-17042 bull leg).

LEVELS: 14885 14947 15123 15299 15337 15415

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

DISCLOSURES

News & Analysis at your fingertips.