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
Mixed
GBP/USD
Mixed
USD/JPY
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
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • - Euro may fall with DAX index on #coronavirus fear - Germany has reported its first case of the disease - #EURCHF is on the cusp of testing five-year lows https://www.dailyfx.com/forex/market_alert/2020/01/28/Euro-May-Fall-with-DAX-Index-as-Caronivrus-Spreads-into-Europe.html https://t.co/cEMKKxzqUT
  • The #Euro has broken four-month support guiding a recovery against the US Dollar to suggest that the long-term downtrend has been re-engaged. Get your EUR/USD market update from @IlyaSpivak here: https://t.co/FHiGQZ6zvV https://t.co/c3KbdjrU6g
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: -0.09% Silver: -0.21% Oil - US Crude: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kgSbz8AR3k
  • The #JapaneseYen has attracted its customary haven bid, rising sharply against pro-cyclical plays such as the #AustralianDollar. The #USDollar has been much more resilient, but it too is under a bit of pressure. https://www.dailyfx.com/forex/technical/home/analysis/usd-jpy/2020/01/28/Japanese-Yen-Gains-on-Wuhan-Virus-USDJPY-Nears-Key-Prop.html?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr #AUD, #JPY, #USDJPY, #AUDJPY #Coronavirus
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.04% 🇪🇺EUR: 0.01% 🇬🇧GBP: 0.00% 🇨🇭CHF: -0.08% 🇦🇺AUD: -0.08% 🇯🇵JPY: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/CeEiPkp55n
  • - US Dollar may rise with havens vs. NOK and SEK on #coronavirus concerns - #FOMC outlook may push USD higher if officials re-iterate neutral position - BoE rate decision, forecasts could catalyze selloff in GBP/SEK, GBP/NOK https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/28/US-Dollar-May-Rise-vs-NOK-SEK-on-Coronavirus-Risks-and-FOMC.html
  • LIVE NOW! Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental AUD/USD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.42%, while traders in US 500 are at opposite extremes with 67.96%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/afMbBXdsJc
  • LIVE IN 20 MIN: Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental AUD/USD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720
  • The $NZD is inching toward support guiding gains in the fourth quarter of 2019. A break may set the stage for long-term bearish trend resumption. Get your market update from @IlyaSpivak here:https://t.co/bnlx4RJ8oV https://t.co/guhzUtlNXP
GBP/USD Classical 05.26

GBP/USD Classical 05.26

2010-05-26 05:24:00
Joel Kruger, Technical Strategist
Share:

gbp2

GBP/USD: The market has finally taken out the key 2010 lows by 1.4780 to confirm a fresh medium-term lower top by 1.5500 and open the next major downside extension towards critical psychological barriers by 1.4000 over the coming days. At this point however, with daily studies looking stretched, the market has entered a period of consolidation to allow for daily studies to unwind, and we would not rule out the possibility for a short-term corrective bounce back towards 1.4700-1.4900 before bearish trend resumption. It is worth noting that the 78.6% fib retracement off of the major 2009, 1.3500-1.7050 move, has been tested in the 1.4200’s, and this area could provide the necessary support to help trigger a bounce.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 
If you wish to receive Joel's reports in a more timely fashion, e-mail instructor@dailyfx.com and you will be added to the "distribution" list.

 

If you wish to discus this topic or any other feel free to visit our Forum page


 

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

DISCLOSURES

News & Analysis at your fingertips.