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.

Daily Pivots: (S1) 1.2914; (P) 1.2947; (R1) 1.2982; More…

GBP/USD’s rebound form 1.2675 resumes by taking out 1.3082 resistance firmly today. Intraday bias is back on the upside for retesting 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.

Daily Pivots: (S1) 1.2914; (P) 1.2947; (R1) 1.2982; More…

GBP/USD is still staying in range of 1.2845/3082 for the moment. Intraday bias remains neutral and another rise is expected. On the upside, above 1.3082 will resume the rebound from 1.2675 for retesting 1.3482 high. On the downside, however, break of 1.2845 will indicate that fall from 1.3482 is not over. 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) 1.2890; (P) 1.2957; (R1) 1.3017; More…

Intraday bias in GBP/USD stays neutral for consolidation from 1.3082. Further rise is still in favor with 1.2845 support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for retesting 1.3482 high. On the downside, however, break of 1.2845 will indicate that fall from 1.3482 is not over. 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) 1.2890; (P) 1.2957; (R1) 1.3017; More…

GBP/USD’s consolidation form 1.3082 is still in progress and intraday bias remains neutral first. Further rise is still in favor with 1.2845 support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for retesting 1.3482 high. On the downside, however, break of 1.2845 will indicate that fall from 1.3482 is not over. 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) 1.2863; (P) 1.2912; (R1) 1.2959; More…

Intraday bias in GBP/USD remains neutral first. Further rise is still in favor with 1.2845 support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for retesting 1.3482 high. On the downside, however, break of 1.2845 will indicate that fall from 1.3482 is not over. 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) 1.2863; (P) 1.2912; (R1) 1.2959; More…

Intraday bias in GBP/USD stays neutral as range trading continues inside 1.2845/3082. With 1.2845 support intact, another rise is still mildly in favor. On the upside, above 1.3082 will resume the rebound from 1.2675 for retesting 1.3482 high. On the downside, however, break of 1.2845 will indicate that fall from 1.3482 is not over. 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 edged higher to 1.3082 last week but quickly lost momentum and turned sideway. Initial bias remains neutral this week first. Another rise would be mildly in favor as long as 1.2845 minor support holds. Above 1.3082 will resume the rebound from 1.2675 for retesting 1.3482 high. On the downside, however, break of 1.2845 will indicate that fall from 1.3482 is not over. 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) 1.2853; (P) 1.2942; (R1) 1.2992; More…

Intraday bias in GBP/USD remains neutral for the moment. Another rise is mildly in favor with 1.2845 minor support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for 1.3482 resistance. Nevertheless, break of 1.2845 will indicate that fall from 1.3482 is not over. 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 is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.2853; (P) 1.2942; (R1) 1.2992; More…

No change in GBP/USD’s outlook as range trading continues. Intraday bias stays neutral and another rise is mildly in favor with 1.2845 minor support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for 1.3482 resistance. Nevertheless, break of 1.2845 will indicate that fall from 1.3482 is not over. 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 is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.2896; (P) 1.2980; (R1) 1.3097; More…

GBP/USD is staying in range of 1.2845/3082 and intraday bias remains neutral for the moment. Further rise is still in favor with 1.2845 minor support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for 1.3482 resistance. Nevertheless, break of 1.2845 will indicate that fall from 1.3482 is not over. 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 is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.2896; (P) 1.2980; (R1) 1.3097; More…

Intraday bias in GBP/USD remains neutral at this point. Further rise is still in favor with 1.2845 minor support intact. On the upside, above 1.3082 will resume the rebound from 1.2675 for 1.3482 resistance. Nevertheless, break of 1.2845 will indicate that fall from 1.3482 is not over. 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 is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.2883; (P) 1.2977; (R1) 1.3031; More…

GBP/USD rebounds ahead of 1.2845 minor support but stays below 1.3082 temporary top so far. Intraday bias remains neutral first and further rise is in favor. On the upside, above 1.3082 will resume the rebound from 1.2675 for 1.3482 resistance. Nevertheless, break of 1.2845 will indicate that fall from 1.3482 is not over. 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 is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.2883; (P) 1.2977; (R1) 1.3031; More…

Intraday bias in GBP/USD remains neutral for the moment. As long as 1.2845 minor support holds, further rally is in favor. Above 1.3082 will resume the rebound from 1.2675 for 1.3482 resistance. Nevertheless, break of 1.2845 will indicate that fall from 1.3482 is not over. 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 is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.3019; (P) 1.3051; (R1) 1.3097; More…

Intraday bias in GBP/USD is turned neutral with today’s retreat. Further rise is still expected as long as 1.2845 support holds. Break of 1.3082 will target 1.3482/3514 resistance zone next. Decisive break there will carry larger bullish implications and target 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. On the downside, break of 1.2845 support will dampen this view and turn focus back to 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

In the bigger picture, focus is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.3019; (P) 1.3051; (R1) 1.3097; More…

Intraday bias in GBP/USD remains on the upside as rebound from 1.2675 is in progress. Further rise should be seen to retest 1.3482/3514 resistance zone next. Decisive break there will carry larger bullish implications and target 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. On the downside, break of 1.2845 support will dampen this view and turn focus back to 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

In the bigger picture, focus is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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) 1.2965; (P) 1.3008; (R1) 1.3092; More…

Intraday bias in GBP/USD remains on the upside at this point. The corrective fall form 1.3482 should have completed at 1.2675 already. Further rally would be seen to retest 1.3482/3514 resistance zone next. Decisive break there will carry larger bullish implications and target 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. On the downside, break of 1.2845 support will dampen this view and turn focus back to 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

In the bigger picture, focus is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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 break of 1.3007 resistance last week suggests that correction from 1.3482 has completed at 1.2675. That came after drawing support from 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Initial bias is now back on the upside this week for retesting 1.3482/3514 resistance zone next. Decisive break there will carry larger bullish implications and target 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. On the downside, break of 1.2845 support will dampen this view and turn focus back to 1.2675 support instead.

In the bigger picture, focus is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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 1.3317). Long term outlook stays bearish for now, despite bullish convergence condition in monthly MACD.

Daily Pivots: (S1) 1.2893; (P) 1.2932; (R1) 1.2972; More…

GBP/USD is still staying in range of 1.2675/3007 and intraday bias remains neutral. 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. Nevertheless, 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.

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 1.3310). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2756) 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) 1.2893; (P) 1.2932; (R1) 1.2972; More…..

Range trading continues in GBP/USD and intraday bias remains neutral for the moment. 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. Nevertheless, 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.

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 1.3310). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2756) 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).