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  • Cable has enjoyed a prolonged period of gains against the US dollar during the last quarter of 2020 and the early days of 2021 thus far. Get your $GBPUSD market update from @RichardSnowFX here:https://t.co/i9ryfQYPCY https://t.co/aihtigIzh0
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  • US Dollar Price Action Setups: EUR/USD, USD/CAD, AUD/USD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/01/20/US-Dollar-Price-Action-Setups-USD-DXY-USDollar-EUR-USD-EURUSD-AUD-USD-AUDUSD-USD-CAD-USDCAD.html $USD $EURUSD $USDCAD $AUDUSD https://t.co/5oWRlUTZJl
  • Dollar Index remains above 90 as US equities put in a strong session $USD $DXY https://t.co/nKrGpulwmN
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 2.28% Gold: 1.47% Oil - US Crude: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fkusw10RZZ
  • EUR/USD carves a series of higher highs and lows ahead of the European Central Bank’s (ECB) first meeting for 2021. Get your $EURUSD market update from @DavidJSong here:https://t.co/XXMha8V8dD https://t.co/r7RYOc1u6r
  • Silver noticeably higher during trade, now up over 2% $XAG $USD https://t.co/5G4QlzCdja
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 66.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MegXLHg0tp
  • Canadian #Dollar Outlook: $USDCAD BoC Breakdown– #Loonie Levels - https://t.co/3SVBLyMZTI https://t.co/9SzmpyXplC
GBP/USD Weekly Reversal; Testing Resistance on the Daily

GBP/USD Weekly Reversal; Testing Resistance on the Daily

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Weekly Reversal; Testing Resistance on the Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-GBP/USD has turned up sharply. The rally is within the confines of a downtrend but Cable could trade to 1.50 and still be in a downtrend. The emotion surrounding the Brexit headlines is consistent with a fairly important low but the rate could experience pullbacks in the 1.4250-1.4550 range.

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.

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