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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇩🇪 Unemployment Rate (SEP) due at 07:55 GMT (15min) Expected: 6.4% Previous: 6.4% https://www.dailyfx.com/economic-calendar#2020-09-30
  • Heads Up:🇩🇪 Unemployment Change (SEP) due at 07:55 GMT (15min) Expected: -8K Previous: -9K https://www.dailyfx.com/economic-calendar#2020-09-30
  • #SP500 continues to battle with resistance at the 50-DMA as price carves out a Falling Wedge pattern Fading volume and the RSI's struggle to break above 50 hints that further losses could be in the offing. Is the $SPX's recovery running out of steam? $ES https://t.co/q6LvoBMZjh
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.37% Gold: -0.66% Silver: -1.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/V8pEFOOvIE
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.04% 🇪🇺EUR: -0.05% 🇳🇿NZD: -0.06% 🇨🇭CHF: -0.16% 🇦🇺AUD: -0.17% 🇬🇧GBP: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/KALLAob78W
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/S9CEcBm5Qe https://t.co/PczDJYzd8I
  • Heads Up:💶 ECB President Lagarde Speech due at 07:20 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-30
  • #Nasdaq100 Reacts to Key Resistance as Market Awaits Fiscal Stimulus $NQ $NDQ https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/09/30/Nasdaq-100-Reacts-to-Key-Resistance-as-Market-Awaits-Fiscal-Stimulus.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/4cKKQ069Wh
  • 🇨🇭 KOF Leading Indicators (SEP) Actual: 113.8 Expected: 106 Previous: 110.2 https://www.dailyfx.com/economic-calendar#2020-09-30
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.51% US 500: -0.57% Germany 30: -0.63% Wall Street: -0.64% France 40: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/naM5tGUnsq
GBP/USD Technical Analysis: Upswing Signaled at Trend Line

GBP/USD Technical Analysis: Upswing Signaled at Trend Line

2013-07-04 06:35:00
Ilya Spivak, Head Strategist, APAC
Share:

GBP/USD Technical Analysis – Prices put in a Bullish Engulfing candlestick pattern above support at a rising trend line set from mid-March, hinting a move higher is ahead. Near-term resistance is at 1.5304, the 23.6% Fibonacci expansion. A break above that targets the 38.2% level at 1.5412. Trend line support is now at 1.5132.

dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis: Upswing Signaled at Trend Line

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

DISCLOSURES