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.

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
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
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • 🇲🇽 Markit Manufacturing PMI (NOV) Actual: 43.70 Previous: 43.6 https://www.dailyfx.com/economic-calendar#2020-12-01
  • EUR/USD Rejects 1.20 Again: With month-end noise out of the way, markets can now focus on the longer-term themes. Get your $EURUSD market update from @JMcQueenFX here: https://t.co/KUlnBfnvfN https://t.co/SEOFiV1O12
  • $USD bounce from yday now almost entirely priced-out. Two-year-low lurks just below https://t.co/RgWHkaDihi https://t.co/RxQCFXtQVn
  • $EURUSD has jumped above 1.20000 during the Powell testimony
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 4.42% Gold: 1.74% Oil - US Crude: -1.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xDodhRKg6H
  • Heads Up:🇲🇽 Markit Manufacturing PMI (NOV) due at 15:30 GMT (15min) Previous: 43.6 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Reports that a bipartisan group of senators is ready to pitch a new program that will be $908 bln with $180 federal unemployment and $300 bln to the PPP (for $300 week in jobless benefits for up to four months). Still far from what the House Dems have sought north of $2 tln
  • The faster-than-expected slip from the ISM manufacturing activity report is not itself a signal for serious concern, but if the service sector update later this week does similar, the implications for the US will be more troubling into the third Covid wave https://t.co/4dzdiyxo2c
  • FTSE 100 - 50% Fib holds and 50-/200-sdma golden cross-forming...#ftse #ftse100 #stocks @DailyFXTeam https://t.co/ic1nU7RlHZ
  • 🇺🇸 Construction Spending MoM (OCT) Actual: 1.3% Expected: 0.8% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-12-01
GBP/USD Range Presents EUR/GBP Trading Opportunity

GBP/USD Range Presents EUR/GBP Trading Opportunity

2013-10-17 22:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Weekly

eliottWaves_gbp-usd_1_body_gbpusd.png, GBP/USD Range Presents EUR/GBP Trading Opportunity

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-GBPUSD saw its 2nd largest 1 day rally of the year, behind only 9/18. The market remains below the October high and the 10/1 close at 1.6195 is estimated resistance before the high.

-Exceeding the 10/1 high (1.6259-which is pips from the 1/2 close of 1.6252) still faces the January high (first trading day of the year in fact) at 1.6380.

Trading Strategy: GBPUSD has yet to confirm the EURUSD high. This market may very well remain within a range. There is a bullish EURGBP setup.

LEVELS: 1.6055 1.6096 1.6125 | 1.6195 1.6259 1.6300/10

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

DISCLOSURES