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.

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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.53%, while traders in France 40 are at opposite extremes with 75.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/1EwsVNUxRg
  • Heads Up:🇲🇽 Balance of Trade (OCT) due at 12:00 GMT (15min) Expected: $3.575B Previous: $4.385B https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇮🇳 GDP Growth Rate YoY (Q3) due at 12:00 GMT (15min) Expected: -8.8% Previous: -23.9% https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇩🇪 Bundesbank Balz Speech due at 12:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇧🇷 Unemployment Rate (SEP) due at 12:00 GMT (15min) Expected: 14.9% Previous: 14.4% https://www.dailyfx.com/economic-calendar#2020-11-27
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.06% Gold: -0.18% Silver: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5Vb2TX4ZO6
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇳🇿NZD: 0.22% 🇦🇺AUD: 0.20% 🇪🇺EUR: 0.10% 🇨🇭CHF: 0.02% 🇬🇧GBP: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Ajn9ITnidH
  • Heads Up:🇪🇸 Business Confidence (NOV) due at 11:30 GMT (15min) Previous: -9.2 https://www.dailyfx.com/economic-calendar#2020-11-27
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/FvfvZXCN32
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: France 40: 0.38% US 500: 0.38% Wall Street: 0.32% Germany 30: 0.12% FTSE 100: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/dpPO3ALGfW
GBP/USD 5 Waves Drop; Could therefore Bounce Soon

GBP/USD 5 Waves Drop; Could therefore Bounce Soon

2017-01-03 20:47:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

GBP/USD 5 Waves Drop; Could therefore Bounce Soon

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The GBP/USD rally has failed at a long term parallel. The parallel is defined by the 2007-2011 trendline (off of the highs) and extends off of the 2009 high. That line has pinpointed major inflection points for years. Likewise, a move above the level would be seen as significant.” The drop from the December high is unfolding as an impulse (5 waves). The implication is that an interim low and rally attempt is due soon.

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

DISCLOSURES