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
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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇬🇷 Unemployment Rate (JAN) due at 09:00 GMT (15min) Previous: 15.8% https://www.dailyfx.com/economic-calendar#2021-04-15
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/q7YCOo8DM1
  • US Dollar Looks to Retail Sales, Jobless Claims Data for a Lifeline - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/04/15/US-Dollar-Looks-to-Retail-Sales-Jobless-Claims-Data-for-a-Lifeline.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #dollar #retailsales #joblessclaims https://t.co/vJVKJ5P92g
  • Heads Up:🇬🇧 BoE Credit Conditions Survey due at 08:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇪🇸 Balance of Trade (FEB) Actual: €-1.082B Previous: €-1.769B https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇮🇹 Inflation Rate YoY Final (MAR) Actual: 0.8% Expected: 0.8% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-04-15
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.93%, while traders in France 40 are at opposite extremes with 75.22%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F80m5ro5O1
  • Heads Up:🇪🇸 Balance of Trade (FEB) due at 08:00 GMT (15min) Previous: €-1.769B https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇮🇹 Inflation Rate YoY Final (MAR) due at 08:00 GMT (15min) Expected: 0.8% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-04-15
  • German Health Minister says Germany will have 20% of population vaccinated by the end of April $EUR
GBP/USD Technical Analysis: Selloff Stalls Above 1.54 Figure

GBP/USD Technical Analysis: Selloff Stalls Above 1.54 Figure

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/USD Technical Strategy: Flat
  • Support: 1.5430, 1.5194, 1.4811
  • Resistance: 1.5699, 1.5814, 1.5966

The British Pound paused to digest losses after producing the largest daily decline in three weeks against the US Dollar. Near-term support is at 1.5430, the 14.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 23.6% level at 1.5194. Alternatively, a turn back above the May 21 high at 1.5699 opens the door for a challenge of the May 14 top at 1.5814.

Risk/reward considerations argue against entering short with prices in close proximity to support. On the other hand, the absence of a defined bullish reversal signal suggests taking up the long side is premature. We will remain flat for now, waiting for an actionable opportunity to present itself.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

GBP/USD Technical Analysis: Selloff Stalls Above 1.54 Figure

Daily Chart - Created Using FXCM Marketscope

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

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

DISCLOSURES