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
Bullish
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
Bullish
GBP/USD
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
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
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/0t2meOWXuU
  • (Asia AM) The Australian Dollar may wilt but can that break the near-term $AUDUSD uptrend? Weekend Dow Jones futures hint a “risk-off” tilt that may boost the Japanese #Yen and haven-linked US #Dollar #USD - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/03/29/Australian-Dollar-May-Wilt-as-Yen-and-US-Dollar-Rise-in-Asia-Trade.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/WGYOUEHzNG
  • How can you be a part-time trade? Get your tips on workflow and strategy here with@WVenketas: https://t.co/b8ywNOOgx9 #tradingstyle https://t.co/PoEtcYbBcu
  • #USDZAR fell to a record low after ratings downgrade https://t.co/IlUGUSrvGI
  • After the pattern is composed with the closing of the signal candle, then you can look to the following candle to identify a clear bias and risk points. Learn how to apply this knowledge to a trading strategy here: https://t.co/uh3NwgHBVv https://t.co/dUx38k6I6N
  • Weekend Wall Street futures - courtesy of @IGcom - shows the #DowJones down almost -1% heading into Monday's Asia Pacific trading session. This May spell a cautious "risk-off" tilt as the week gets going [delayed] - https://t.co/0ZvPJNGV7q https://t.co/iMhNyyGq0R
  • RT @NYGovCuomo: New York State on PAUSE is extended to April 15. That means the non-essential workforce is directed to continue to work fr…
  • Why is the Strait of Hormuz the world's most important #oil chokepoint? Find out from @JMcQueenFX here: https://t.co/0UPiGgqHbW #OOTT https://t.co/yt072tbesk
  • RT @Saida_Zahidova: The Global Oil Market Is Broken: 🛢#coronavirus have cut global oil consumptions by up to 25% 🛢The collapse in air tra…
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
GBP/USD Outside Day at Trendline; Key Juncture

GBP/USD Outside Day at Trendline; Key Juncture

2014-03-24 23:55:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Outside Day at Trendline; Key Juncture

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“GBPUSD made a key reversal on 2/17. The pullback occurs after a push above the 2011 high and test of the best level since November 2009. Thursday’s high registered a few pips above the 2/17 close. The manner in which the market responded to that level is bearish.”

-“A daily key reversal at the top of a multiyear range is not something to dismiss. The longer that the market stays below the 2/17 high, the more likely it is that an important top is in place. The market needs to break (not spike intraday) 1.6580 (daily close) to suggest that the path is lower towards 1.6400.” 1.6580 has been broken. The decline is choppy so far but that can change quickly. The line that extends off of the November and February lows should offer insight regarding whether or not the larger trend has reversed. We are there now.

LEVELS: 1.6301 1.6380 1.6440 | 1.6531 1.6582 1.6653

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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

DISCLOSURES

News & Analysis at your fingertips.