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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.71% Germany 30: 0.36% France 40: 0.27% Wall Street: -0.20% US 500: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/dBKsn9756w
  • 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/zEEUHZBx7g https://t.co/D6pqxwS0eY
  • Coming up at half past the hour... my free webinar on market sentiment. Do join me if you can. You can sign up here: https://www.dailyfx.com/webinars #sentiment
  • 💶 Inflation Rate MoM Flash (FEB) Actual: 0.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-03-02
  • 💶 Inflation Rate YoY Flash (FEB) Actual: 0.9% Expected: 0.9% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-03-02
  • 💶 Core Inflation Rate YoY Flash (FEB) Actual: 1.1% Expected: 1.1% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-03-02
  • Italy will likely seek more stimulus as the outlook for coronavirus worsens $EUR
  • Heads Up:💶 Inflation Rate MoM Flash (FEB) due at 10:00 GMT (15min) Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-03-02
  • Heads Up:💶 Inflation Rate YoY Flash (FEB) due at 10:00 GMT (15min) Expected: 0.9% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-03-02
  • Heads Up:💶 Core Inflation Rate YoY Flash (FEB) due at 10:00 GMT (15min) Expected: 1.1% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-03-02
British Pound Fails at Key Resistance, Losses Likely

British Pound Fails at Key Resistance, Losses Likely

David Rodriguez, Head of Product
British Pound Fails at Key Resistance, Losses Likely

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

GBPUSD Retail forex traders have bought steadily into British Pound weakness, and a contrarian view of crowd sentiment acts as signal that the GBP/USD may continue lower. Indeed it has now stopped and reversed at important volume-based congestion resistance at $1.5650 for the third time; short-term targets now lie at comparable support near $1.54.

See next currency section:USDJPY - US Dollar Outlook Positive versus Japanese Yen

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

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

DISCLOSURES