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
Real Time News
  • The oil-CAD relationship has been on display over the past month as both markets have been bursting with strength. Get your $USDCAD market update from @JStanleyFX here:https://t.co/nvbZVwg8NQ https://t.co/aVrf5Gws1Q
  • After making a fresh all-time high, Bitcoin has retreated slightly. Now trading back below $66,000 #Bitcoin $BTCUSD https://t.co/h7MRbR13Ju
  • NZD/USD takes out the September high (0.7170) as it extends the advance following the kneejerk reaction to the US consumer Price Index (CPI). Get your market update from @DavidJSong here:https://t.co/QtOtKrJ7X2 https://t.co/0ZP406evUS
  • FDA approves Moderna and Johnson & Johnson Covid booster shots - BBG $MRNA $JNJ
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.68% 🇦🇺AUD: 0.57% 🇨🇭CHF: 0.45% 🇬🇧GBP: 0.22% 🇪🇺EUR: 0.16% 🇯🇵JPY: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/s6QjvuMoVM
  • Fed's Mester: - My inflation forecast for this year has been revised - My expectations are that bottlenecks will last longer than originally expected
  • Fed's Mester: - Interest rate hikes are not coming anytime soon - As asset purchases slow down, we will have time to assess inflation and employment
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.66% Gold: 0.67% Oil - US Crude: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vFDDklTKD3
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.48%, while traders in Wall Street are at opposite extremes with 77.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ojedFqGrS2
  • The FTSE 100 index of leading London-listed stocks is in a good position to climb further, helped by Wall Street strength. Get your market update from @MartinSEssex here:https://t.co/DMsdDCgvLr https://t.co/CAdKQ1ENwv
GBP/USD 1.5700 Still of Interest for Resistance

GBP/USD 1.5700 Still of Interest for Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD 1.5700 Still of Interest for Resistance

Chart Prepared by Jamie Saettele, CMT

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

-“A 6 month bottoming pattern (head and shoulders) has completed (target 1.70+) but the rate does face resistance (within an uptrend) now so be aware of a shakeout (lower) following this breakout.”

-The ‘shakeout’ turned into a mini downtrend but the rate did turn up from above slope support (which was at 1.5300) in early July. The seeds for a larger advance are sewn but beware of near term resistance around 1.57. Weakness below 1.5465 would negate anything bullish until at least 1.5360 and maybe closer to 1.51.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

DISCLOSURES