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.

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
More View more
GBP/USD Trades Below NFP Low

GBP/USD Trades Below NFP Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Trades Below NFP Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“The next possible resistance is 1.6985 then the 2009 high at 1.7042. Cable remains capped by 1.6985 and an unorthodox channel. The trend is higher against 1.6820 although complacency in the market leaves me respecting potential for a downside surprise.”

-GBPUSD traded below the NFP low of 1.6820 today. This level is stacked with former highs and channel support. The decline into this level is impulsive, suggesting a change in the larger trend but not before a rally attempt (watch 1.6900).

LEVELS: 1.6717 1.6762 1.6806 | 1.6842 1.6870 1.6918

--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