Daily Pivots: (S1) 1.2866; (P) 1.2908; (R1) 1.2961; More…

GBP/USD recovers further today but stays well below 1.3175 resistance. Intraday bias remains neutral first. On the downside, break of 1.2853 will turn bias to the downside for retesting 1.2675 support and 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, however, break of 1.3175 will resume the rebound from 1.2675 to retest 1.13482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.2866; (P) 1.2908; (R1) 1.2961; More…

Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.2853 will turn bias to the downside for retesting 1.2675 support and 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, however, break of 1.3175 will resume the rebound from 1.2675 to retest 1.13482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.2904; (P) 1.2946; (R1) 1.2993; More…

GBP/USD edged lower to 1.2853 today but quickly recovered again. Intraday bias stays neutral first. On the downside, break of 1.2853 will turn bias to the downside for retesting 1.2675 support and 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, however, break of 1.3175 will resume the rebound from 1.2675 to retest 1.13482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.2904; (P) 1.2946; (R1) 1.2993; More…

Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.2880 will turn bias to the downside for retesting 1.2675 support and 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, however, break of 1.3175 will resume the rebound from 1.2675 to retest 1.13482 high.

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 1.3307). 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 gyrated lower to 1.2880 last wee but quickly recovered. Initial bias stays neutral this week first. On the downside, break of 1.2880 should turn intraday bias to the downside for retesting 1.2675, as well as 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, however, break of 1.3175 will resume the rebound from 1.2675 to retest 1.13482 high.

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 1.3307). 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 1.3307). Long term outlook stays bearish for now, despite bullish convergence condition in monthly MACD.

Daily Pivots: (S1) 1.2864; (P) 1.2945; (R1) 1.3008; More…

GBP/USD quickly recovered after breaching 1.2910 support to 1.2880. Intraday bias remains neutral first. On the downside, firm break of 1.2880 will argue that rebound from 1.2657 has completed. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, above 1.3175 will extend the rebound from 1.2675 and bring retest of 1.3482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.2864; (P) 1.2945; (R1) 1.3008; More…

Focus is now on 1.2910 support as GBP/USD’s decline from 1.3175 extends. Firm break of 1.2910 will suggest completion of the rebound from 1.2675. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, above 1.3175 will extend the rebound from 1.2675 and bring retest of 1.3482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.2912; (P) 1.2987; (R1) 1.3058; More…

At this point, GBP/USD is still holding on to 1.2910 support and intraday bias remains neutral first. On the downside, break of 1.2910 will suggest completion of the rebound from 1.2675. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, above 1.3175 will extend the rebound from 1.2675 and bring retest of 1.3482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.2912; (P) 1.2987; (R1) 1.3058; More…

Intraday bias in GBP/USD remains neutral at this point with 1.2910 support intact. On the downside, break of 1.2910 will suggest completion of the rebound from 1.2675. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, above 1.3175 will extend the rebound from 1.2675 and bring retest of 1.3482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.3007; (P) 1.3043; (R1) 1.3086; More…

While the decline from 1.3175 extends lower today, downside is contained above 1.2910 support so far. Intraday bias remains neutral first. On the downside, break of 1.2910 will suggest completion of the rebound. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. On the upside, above 1.3175 will extend the rebound from 1.2675 and bring retest of 1.3482 high.

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 1.3307). 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.

Daily Pivots: (S1) 1.3007; (P) 1.3043; (R1) 1.3086; More…

Intraday bias in GBP/USD remains neutral for the moment and more consolidation could be seen below 1.3175 temporary top. With 1.2910 support intact, further rise is still expected. On the upside, break of 1.3175 will target a test on 1.3482 high. On the downside, however, break of 1.2910 will suggest completion of the rebound. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

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 1.3307). 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.

Daily Pivots: (S1) 1.2986; (P) 1.3030; (R1) 1.3067; More…

GBP/USD is staying in consolidation from 1.3175 temporary top. Intraday bias remains neutral first. With 1.2910 support intact, further rise is still expected. On the upside, break of 1.3175 will target a test on 1.3482 high. On the downside, however, break of 1.2910 will suggest completion of the rebound. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

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 1.3307). 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.

Daily Pivots: (S1) 1.2986; (P) 1.3030; (R1) 1.3067; More…

Intraday bias in GBP/USD remains neutral as consolidation from 1.3175 is still in progress. With 1.2910 support intact, further rise is still expected. On the upside, break of 1.3175 will target a test on 1.3482 high. On the downside, however, break of 1.2910 will suggest completion of the rebound. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

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 1.3307). 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.

Daily Pivots: (S1) 1.3002; (P) 1.3062; (R1) 1.3105; More…

GBP/USD is staying in consolidation from 1.3175 temporary top and intraday bias remains neutral first. Another rise is expected as long as 1.2910 support holds. Break of 1.3175 will target a test on 1.3482 high. On the downside, however, break of 1.2910 will suggest completion of the rebound. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

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 1.3307). 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.

Daily Pivots: (S1) 1.3002; (P) 1.3062; (R1) 1.3105; More…

Intraday bias in GBP/USD remains neutral for some consolidations below 1.3175 temporary top. Another rise is expected as long as 1.2910 support holds. Break of 1.3175 will target a test on 1.3482 high. On the downside, however, break of 1.2910 will suggest completion of the rebound. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

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 1.3307). 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’s rebound from 1.2675 resumed last week and hit 1.3175, but retreated from there. Initial bias remains neutral this week first. Another rise is expected as long as 1.2910 support holds. Break of 1.3175 will target a test on 1.3482 high. On the downside, however, break of 1.2910 will suggest completion of the rebound. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

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 1.3307). 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 1.3307). Long term outlook stays bearish for now, despite bullish convergence condition in monthly MACD.

Daily Pivots: (S1) 1.3053; (P) 1.3103; (R1) 1.3135; More…

GBP/USD is staying in range below 1.3175 temporary top and intraday bias remains neutral at this point. With 1.2910 support intact, further rise is expected. On the upside, break of 1.3175 will resume the rebound from 1.2675 to retest 1.3482 high. On the downside, break of 1.2910 minor support will turn bias back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690 instead.

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 1.3307). 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.

Daily Pivots: (S1) 1.3053; (P) 1.3103; (R1) 1.3135; More…

Intraday bias in GBP/USD is turned neutral as it retreated after hitting 1.3175. Further rise still expected as long as 1.2910 support holds. On the upside, break of 1.3175 will resume the rebound from 1.2675 to retest 1.3482 high. On the downside, break of 1.2910 minor support will turn bias back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690 instead.

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 1.3307). 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.

Daily Pivots: (S1) 1.2998; (P) 1.3087; (R1) 1.3235; More…

Intraday bias in GBP/USD stays on the upside as rebound from 1.2675 is still in progress. Next target is retesting 1.3482 high. On the downside, break of 1.2910 minor support will turn bias back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690 instead.

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 1.3307). 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.

Daily Pivots: (S1) 1.2998; (P) 1.3087; (R1) 1.3235; More…

Intraday bias in GBP/USD remains on the upside at this point. rebound from 1.2675 should target a test on 1.3482 high next. On the downside, break of 1.2910 minor support will turn bias back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690 instead.

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 1.3307). 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.