Daily Pivots: (S1) 1.4074; (P) 1.4096; (R1) 1.4137; More….

GBP/USD’s rally continues today and hits as high as 14240 so far. Strong break of channel resistance suggests up side acceleration. Intraday bias stays on the upside for 1.4376 long term resistance next. Firm break there will pave the way to 100% projection of 1.1409 to 1.3482 from 1.2675 at 1.4748. On the downside, below 1.4053 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3893; (P) 1.3936; (R1) 1.3986; More….

Intraday bias in GBP/USD remains neutral as range trading continues. On the upside, above 1.3995 will target 1.4144 resistance first. Break there will confirm completion of correction from 1.4345 and target retest of this high. On the downside, below 1.3873 minor support will turn bias to the downside to extend the corrective fall from 1.4345. In that case, GBP/USD will target 1.3651 resistance turned support next.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down from 2007 high at 2.1161. Further rally would be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4259) so far. Break of 1.3038 support, will suggest that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3763; (P) 1.3789; (R1) 1.3824; More….

GBP/USD rebounds further today but still it’s staying well below 1.4144 resistance. Intraday bias remains neutral, with mild bearish near term outlook. Correction from 1.4345 would extend and break of 1.3711 will target 1.3651 resistance turned support and below. At this point, such fall is viewed as a corrective move. Hence, we’ll look for strong support from 38.2% retracement of 1.1946 to 1.4345 at 1.3429 to contain downside and bring rebound.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down from 2007 high at 2.1161. Further rally would be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4259) so far. Break of 1.3038 support, will suggest that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3862; (P) 1.3887; (R1) 1.3928; More….

GBP/USD is still staying in the corrective pattern from 1.3711 temporary low and intraday bias remains neutral first. Decline from 1.4345 is in favor to extend. Below 1.3711 will resume the fall from 1.4345 through 1.3651 resistance turned support. We’ll look for strong support from 38.2% retracement of 1.1946 to 1.4345 at 1.3429 to contain downside and bring rebound. This will be the preferred case as long as 1.4144 resistance holds.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down from 2007 high at 2.1161. Further rally would be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4259) so far. Break of 1.3038 support, will suggest that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3809; (P) 1.3847; (R1) 1.3881; More….

Intraday bias in GBP/USD remains mildly on the downside for a.3785 support. Break will resume the fall from 1.4248, as the third leg of the consolidation pattern from 1.4240, and target 1.3668 support and possibly below. On the upside, break of 1.4000 will turn bias back to the upside for retesting 1.4240/8 resistance zone instead.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

GBP/USD’s rebound from 1.2675 resumed last week and hit as high as 1.3313, but retreat from there. Initial bias is neutral this week first. Another rise is mildly in favor and break of 1.3313 will target a test on 1.3482 high. However, sustained break of 1.3106 will argue that the rebound from 1.2675 has completed. Intraday bias will be turned back to the downside for 1.2853 support.

In the bigger picture, focus stays on 1.3514 key resistance. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3304). That should confirm medium term bottoming at 1.1409. Outlook will be turned bullish for 1.4376 resistance and above. Nevertheless, rejection by 1.3514 will maintain medium term bearishness for another lower below 1.1409 at a later stage.

In the longer term picture, GBP/USD is staying below decade long trend line from 2.1161 (2007 high). It also struggles to sustain above 55 month EMA (now at 1.3304). Long term outlook stays bearish for now, despite bullish convergence condition in monthly MACD.

Daily Pivots: (S1) 1.3703; (P) 1.3819; (R1) 1.3891; More…

GBP/USD’s fall extends to as low as 1.3712 so far today and intraday bias remains on the downside. Decisive break of 1.3711 key support should confirm medium term reversal. That is whole rally from 1.1946 has completed. And deeper fall should be seen to 1.3448 fibonacci level next. On the upside, above 1.3791 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.2216; (P) 1.2297; (R1) 1.2337; More….

With today’s decline, GBP/USD’s focus is back on 1.2247 support. Break there will complete a double top (1.2647, 1.2645). That would suggest completion of corrective rebound from 1.1409. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.2647 will resume the rebound from 1.1409 to 1.3200 resistance next.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2866; (P) 1.2910; (R1) 1.2982; More…..

Intraday bias in GBP/USD stays neutral with focus on 1.3007 resistance. On the upside, firm break of 1.3007 resistance will suggest that decline from 1.3482 is merely a corrective move and has completed. Intraday bias will be turned back to the upside for retesting 1.3482. On the downside, sustained break of 38.2% retracement of 1.1409 to 1.3482 at 1.2690 will argue that the rise from 1.1409 might be completed, and bring deeper fall to 61.8% retracement at 1.2201.

In the bigger picture, while the rebound from 1.1409 was strong, it’s limited by both 1.3514 resistance, as well as 55 month EMA (now at 1.3317). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2749) will add to medium term bearishness for a new low below 1.1409 at a later stage, resuming the down trend from 2.1161 (2007 high).

Daily Pivots: (S1) 1.2216; (P) 1.2297; (R1) 1.2337; More….

Focus remains on 1.2247 support in GBP/USD. Firm break there will complete a double top (1.2647, 1.2645) pattern. That would suggest completion of corrective rebound from 1.1409. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.2647 will resume the rebound from 1.1409 to 1.3200 resistance next.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2715; (P) 1.2769; (R1) 1.2807; More…

GBP/USD’s break of 55 4H EMA (now at 1.2760) indicates short term topping at 1.2829. Intraday bias is back on the downside for 55 D EMA (now at 1.2673). Sustained break there will target 1.2517 structural support next. For now, risk will stay mildly on the downside as long as 1.2822 minor resistance holds, in case of recovery.

In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Rise from 1.2036 is seen as the second leg, which is still in progress. But upside should be limited by 1.3141 to bring the third leg of the pattern. Meanwhile, break of 1.2517 support will argue that the third leg has already started for 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 again.

Daily Pivots: (S1) 1.3203; (P) 1.3238; (R1) 1.3284; More…

Intraday bias in GBP/USD remains neutral and consolidation from 1.3313 temporary top could extend. Further rise is in favor with 1.3106 support intact. On the upside, break of 1.3313 will target a test on 1.3482 high. However, sustained break of 1.3106 will argue that the rebound from 1.2675 has completed. Intraday bias will be turned back to the downside for 1.2853 support.

In the bigger picture, focus stays on 1.3514 key resistance. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3304). That should confirm medium term bottoming at 1.1409. Outlook will be turned bullish for 1.4376 resistance and above. Nevertheless, rejection by 1.3514 will maintain medium term bearishness for another lower below 1.1409 at a later stage.

GBP/USD stayed in consolidation from 1.2675 last week and upside was limited below 1.3007 resistance. Initial bias stays neutral this week first and further decline is expected. On the downside, sustained break of 38.2% retracement of 1.1409 to 1.3482 at 1.2690 will argue that the rise from 1.1409 might be completed, and bring deeper fall to 61.8% retracement at 1.2201. However, break of 1.3007 resistance will suggest that decline from 1.3482 is merely a corrective move, and turn bias back to the upside for retesting 1.3482.

In the bigger picture, while the rebound from 1.1409 was strong, it’s limited by both 1.3514 resistance, as well as 55 month EMA (now at 1.3317). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2749) will add to medium term bearishness for a new low below 1.1409 at a later stage, resuming the down trend from 2.1161 (2007 high).

In the longer term picture, GBP/USD is staying below decade long trend line from 2.1161 (2007 high). It also struggles to sustain above 55 month EMA (now at 1.3317). Long term outlook stays bearish for now, despite bullish convergence condition in monthly MACD.

Daily Pivots: (S1) 1.2692; (P) 1.2729; (R1) 1.2786; More…

Intraday bias in GBP/USD remains neutral as range trading continues below 1.2826. On the upside, decisive break of 1.2826 high will resume whole rally from 1.2036. Nevertheless, another fall and break of 1.2611 will bring deeper correction to 1.2499 support instead.

In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Rise from 1.2036 is seen as the second leg that’s in progress. Upside should be limited by 1.3141 to bring the third leg of the pattern. Meanwhile, break of 1.2499 support will argue that the third leg has already started for 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 again.

Daily Pivots: (S1) 1.2992; (P) 1.3072; (R1) 1.3135; More….

Intraday bias in GBP/USD remains neutral for the moment. Further rise could still be seen as long as 1.2982 support holds. Break of 1.3815 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3732; (P) 1.3784; (R1) 1.3814; More….

Intraday bias in GBP/USD remains on the downside at this point. Fall from 1.4248, as the third leg of the consolidation pattern from 1.4240, and should target 1.3668 support and possibly below. On the upside, above 1.3871 minor resistance will turn intraday bias neutral first. But break of 1.4000 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.2653; (P) 1.2724; (R1) 1.2835; More…

GBP/USD’s rally is in progress and intraday bias stays on the upside for the moment. Current rise from 1.2036 should target 61.8% projection of 1.2068 to 1.2731 from 1.2499 at 1.2909 next. On the downside, below 1.2678 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 1.2499 support holds.

In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to rise from 1.0351 (2022 low). Rise from 1.2036 is seen as the second leg, that could still extend through 1.2731. But upside should be limited by 1.3141 o bring the third leg of the pattern. Meanwhile, sustained trading below 55 EMA will argue that the third leg has already started for 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 again, and possibly below.

GBP/USD’s decline accelerated to as low as 1.1409 last week, then formed a temporary low there and recovered. Initial bias remains neutral this week for consolidations first. But recovery should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

In the longer term picture, long term outlook remains clearly bearish, as it’s held well below long term falling trend line that started back at 2116 (2007 high). Rejection by 55 month EMA also affirmed bearishness. Break of 1.1946 will target 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273.

GBP/USD stayed in consolidation from 1.3758 last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, break of 1.3758 will extend the up trend form 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. On the downside, break of 1.3564 support will turn bias to the downside for deeper correction instead.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

In the longer term picture, a long term bottom should be in place at 1.1409, on bullish convergence condition in monthly MACD. Rise from there would target 38.2% retracement of 2.1161 to 1.1409 at 1.5134. Reaction from there would reveal whether rise from 1.1409 is just a correction, or developing into a long term up trend.

Daily Pivots: (S1) 1.2513; (P) 1.2589; (R1) 1.2628; More….

Intraday bias in GBP?USD stays neutral first with focus back on 1.2508 minor support. Break there will indicate completion of rebound from 1.2251. In this case, intraday bias is turned back to the downside for 1.2251 support. Break there should then confirm completion of whole rebound from 1.1409. on the upside, above 1.2669 temporary will turn bias back to the upside for 1.2813 resistance instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.