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
Bearish
GBP/USD
Bearish
USD/JPY
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
Bearish
Oil - US Crude
Mixed
Bitcoin
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
More View more
Real Time News
  • Hmmmm... I thought the Administration could only defer it once. They will need to make this decision very soon as deadline is Thursday, and this would be an enormous escalation in the trade war https://t.co/IUbJzYjLIH
  • President Trump is expected to delay auto tariff decision for 6 more months according to Politico $DAX $SPX
  • President Trump is expected to delay auto tariff decision for 6 more months according to Politico $DAX $SPY
  • The IG Client Sentiment Report details changes in trader positioning and provides insight on a market's bullish or bearish bias Full Report: https://www.dailyfx.com/sentiment-report https://t.co/SeyIxrpJ5m
  • Retail CFD traders have ramped up the contrarian position behind gold. Long exposure is the highest in a long time and net longs the highest before markets broke higher in June https://t.co/Ramizg18ur
  • Sterling was little changed on the release and remains above 1.2800 against the US dollar for now. Where is $GBPUSD heading? Get your market update from @nickcawley1 here: https://t.co/wyExtLyBcu https://t.co/HfjJns4UbN
  • The @DailyFX Economic Calendar is jam-packed for the rest of the week with high-impact event risk and data releases on deck Full Calendar: https://www.dailyfx.com/economic-calendar https://t.co/8SjcIYb5Z0
  • US Stock Market Close: $SPX -0.20% $DJI +0.05% $NDX -0.22% $RUT -0.26% $VIX +5.55%
  • #Euro Price Forecast: Will #EURNOK Break 7-Year Uptrend? https://www.dailyfx.com/forex/technical/article/special_report/2019/11/08/Euro-Price-Forecast-Will-EURNOK-Break-7-Year-Uptrend.html
  • #Forex Market Update: $EURUSD: 1.1034 (+0.13%) $GBPUSD: 1.2853 (+0.61%) $USDJPY: 109.03 (-0.22%) $AUDUSD 0.6852 (-0.08%) $NZDUSD: 0.6364 (+0.59%) $USDCAD: 1.3222 (-0.03%) $USDCNH: 7.0066 (+0.27%)
GBP/USD 1.6820/40 is Now Resistance

GBP/USD 1.6820/40 is Now Resistance

2014-05-14 19:14:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

GBP/USD 1.6820/40 is Now Resistance

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 has broken below the NFP low of 1.6820. Former highs and lows at this level make the development even more important. 1.6820/40 is now estimated resistance.

LEVELS: 1.6602 1.6657 1.6717 | 1.6820 1.6842 1.6870

--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.