• BIG volume below 1.3070

  • Long targets hit

  • Sellers jumping in

The GBPUSd had a big rally yesterday due to news that PM Johnson was reshuffling his cabinet and that might point to further easing. Technically speaking the GBPUSD is still under a lot of pressure under 1.3200 which is the make it or break it zone since it's here that we've had BIG sellers smashing the Pound down against the USD. 

Yesterday rally was short lived and sellers jumped in again at the previous highs and the top of the rising green structure, short term buyers taking profit here also induced bearish pressure. Now the GBPUSD has break out of a reversal pattern at the top of the move under a BIG volume zone and everyhting points at a dip to retest the lows or at least the 1.2960

US

The interpretation and use of the tradeing signals and market analysis generated by ogfx is at the sole discretion of the customer, subscriber, member or trader. OGFX and its owners shall not be responsible for any claims in losses directly consequential of any trading activity.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD challenges weekly lows after mixed Durable Goods Orders

US Durable Goods Orders were up a measly 0.4% in August, missing expectations of 1.0%, although Nondefense Capital Goods Orders ex Aircraft jumped 1.8%. Equities bounce from lows, but the dollar maintains its strength.

EUR/USD News

GBP/USD loses 1.2700 as the dollar keeps rallying

GBP/USD approaches its weekly low at 1.2674 as demand for the American currency extends into the final trading session of the week. Hopes for a UK trade deal with the EU doing little for Sterling.

GBP/USD News

Gold: Downside appears more compelling in the NFP week ahead

Gold (XAU/USD) shed about 4.5% in the past week, delivering a weekly closing below the August month low of $1863. The yellow metal booked the first weekly loss in three, with the risks skewed to the downside in the US Non-Farm Payrolls (NFP) week ahead.  

Gold News

Breaking: ​​​​​​​The IRS makes it hard to pretend you don’t have Bitcoin

The cryptocurrency holders might have a hard time trying to hide their Bitcoins or other digital assets. IRS considers changing the standard 1040 form by including a bold question on the front page:  At any time during 2020, did you sell, receive, send, exchange, or otherwise acquire any financial interest in any virtual currency? 

Read more

WTI moves back to flat and once again trades above $40 per barrel

It has been a mixed Friday for WTI as the price is moving sideways heading into the weekend. All of the excitement was last week when the OPEC+ JMMC decided to keep output levels at their current rate until December.

Oil News

Forex Majors

Cryptocurrencies

Signatures