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
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
GBP/USD
Bullish
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
Bullish
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
Bitcoin
Bearish
More View more
Real Time News
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.28% Wall Street: 0.24% US 500: 0.22% France 40: 0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sjYJLGdIbL
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 0.30% Oil - US Crude: 0.12% Gold: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EUu80ZRcXs
  • Under 'normal' analytical circumstances, it is suggested that a week local growth update would deflate a currency. Yet, the poor Japanese 4Q GDP update didn't send $USDJPY into its bullish break https://t.co/wtLvJjvl5a
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.48%, while traders in USD/CAD are at opposite extremes with 83.81%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M2mRQ3aQtT
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.33% Oil - US Crude: -0.01% Gold: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gPYjSE9yTT
  • RT @johnauthers: Yikes. Exclude the big 5 (Microsoft, Apple, Alphabet, Amazon and Google) and U.S. earnings were down 7.5% in the 4th quart…
  • RT @economics: China is considering making some purchases of U.S. agricultural goods by early March as a way to show it’s still committed t…
  • RT @YuanTalks: #China's passenger trips fell to 12.37 million on Feb. 16, 80.6% down from a year earlier, said the Ministry of Transport.…
  • RT @LiveSquawk: Coronavirus: China Urged To Delay Purchase Elements Of US Trade Deal As Outbreak Rocks Economy https://t.co/mDnhI2kKC0
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.20% Germany 30: 0.18% Wall Street: 0.17% France 40: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/N3N6LrdxPi
GBP/USD Classical Technical Report 12.19

GBP/USD Classical Technical Report 12.19

2011-12-19 07:18:00
Joel Kruger, Technical Strategist
Share:
Daily_Classical_GBPUSD_body_gbp2.png, GBP/USD Classical Technical Report 12.19

GBP/USD:Rallies have been very well capped ahead of 1.5800 and it looks as though a lower top has now been carved out by 1.5780 ahead of the next major downside extension back towards the October lows at 1.5270. Key support comes in by 1.5400 and a daily close below this level will be required to confirm bias and accelerate declines. Ultimately, only back above 1.5780 would negate bearish outlook and give reason for pause.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.