Daily Pivots: (S1) 1.2753; (P) 1.2809; (R1) 1.2853; More….

Intraday bias in GBP/USD is turned neutral as it lost down side momentum as seen in 4 hour MACD. Further decline remains in favor with 1.3035 minor resistance intact. Decisive 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. Though, break of 1.3035 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 week EMA (now at 1.3317). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2743) 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) 1.2753; (P) 1.2809; (R1) 1.2853; More….

Further decline is expected in GBP/USD and focus is now on 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Strong rebound from there will suggest that decline from 1.3482 is merely a corrective move. Break of 1.3035 minor resistance will turn bias back to the upside for rebound. However, sustained break of 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 week EMA (now at 1.3317). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2743) 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).

GBP/USD’s sharp decline last week confirmed short term topping at 1.3482. Initial bias remains on the downside this week for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Strong rebound from there will suggest that such decline is merely a corrective move. Break of 1.3035 minor resistance will turn bias back to the upside for rebound. However, sustained break of 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 week EMA (now at 1.3317). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2743) 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) 1.2715; (P) 1.2875; (R1) 1.2976; More….

Intraday bias in GBP/USD stays on the downside for the moment. Fall from 1.3482 should target 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Strong rebound from there will suggest that such decline is merely a corrective move. Break of 1.3035 minor resistance will turn bias back to the upside for rebound. However, sustained break of 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, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.2715; (P) 1.2875; (R1) 1.2976; More….

GBP/USD’s fall from 1.3482 resumed after brief recovery and hits as low as 1.2773 so far. Intraday bias is back on the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Strong rebound from there will suggest that such decline is merely a corrective move. Break of 1.3035 minor resistance will turn bias back to the upside for rebound. However, sustained break of 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, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.2916; (P) 1.2970; (R1) 1.3055; More….

Intraday bias in GBP/USD remains neutral and some more consolidation could be seen above 1.2885 temporary low. While recovery might be seen, risk will remain on the downside as long as 1.3482 holds. Break of 1.2885 will extend the fall from 1.3842 to 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Reactions from there will decide whether it’s a corrective decline or reversal.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.2916; (P) 1.2970; (R1) 1.3055; More….

Intraday bias in GBP/USD is turned neutral with a temporary low formed at 1.2885. While recovery might be seen, risk will remain on the downside as long as 1.3482 holds. Break of 1.2885 will extend the fall from 1.3842 to 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Reactions from there will decide whether it’s a corrective decline or reversal.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.2915; (P) 1.3047; (R1) 1.3112; More….

Fall from 1.3482 short term top is still in progress. Intraday bias in GBP/USD remains on the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Reactions from there will decide whether it’s a corrective decline or reversal. On the upside, above 1.3067 minor resistance will turn intraday bias neutral first.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.2915; (P) 1.3047; (R1) 1.3112; More….

Intraday bias in GBP/USD remains on the downside at this point. Fall from 1.3482 short term top is targeting 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Reactions from there will decide whether it’s a corrective decline or reversal. On the upside, above 1.3067 minor resistance will turn intraday bias neutral first.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3115; (P) 1.3192; (R1) 1.3242; More….

GBP/USD’s decline accelerates to as low as 1.3020 so far today. The break of 1.3053 support confirms short term topping at 1.3482. Intraday bias is back on the downside and deeper fall should be seen through 55 day EMA to 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Reactions from there will decide whether it’s a corrective decline or reversal. On the upside, above 1.3184 minor resistance will turn intraday bias neutral first.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3115; (P) 1.3192; (R1) 1.3242; More….

GBP/USD’s pull back from 1.3482 is still extending lower. But it’s held well above 1.3053 support. Hence, intraday bias stays neutral first and further rise remains in favor. On the upside, break of 1.3482 will resume the whole rise from 1.1409 to 1.3514 key resistance next. However, break of 1.3053 will indicate short term topping and initial rejection by 1.3514. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.29649 and below.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3196; (P) 1.3257; (R1) 1.3339; More….

GBP/USD’s pound pull back from 1.3482 extends lower today but stays well above 1.3053 support so far. Intraday bias remains neutral and further rise is still in favor. On the upside, break of 1.3482 will resume the whole rise from 1.1409 to 1.3514 key resistance next. However, break of 1.3053 will indicate short term topping and initial rejection by 1.3514. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2964) and below.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3196; (P) 1.3257; (R1) 1.3339; More….

GBP/USD is staying in consolidation from 1.3482 and intraday bias remains neutral for the moment. Further rally is expected as long as 1.3053 support holds. On the upside, break of 1.3482 will resume the whole rise from 1.1409 to 1.3514 key resistance next. However, break of 1.3053 will indicate short term topping and initial rejection by 1.3514. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2964) and below.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

GBP/USD rose further to 1.3482 last week but retreated quickly since then. Initial bias stays neutral this week for consolidations first. Further rally is expected as long as 1.3053 support holds. On the upside, break of 1.3482 will resume the whole rise from 1.1409 to 1.3514 key resistance next. However, break of 1.3053 will indicate short term topping and initial rejection by 1.3514. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2955) and below.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

In the longer term picture, the case of long term bullish reversal is building up with breach of 55 month EMA. Bullish convergence conditions are also seen in weekly and monthly MACD. Decisive break of 1.3514 will argue that rise from 1.1409 is at least a medium term up trend that corrects that fall from 2.1161 (2007 high). We’ll find out soon.

Daily Pivots: (S1) 1.3230; (P) 1.3293; (R1) 1.3344; More….

Intraday bias in GBP/USD remains neutral for the moment and more consolidation could be seen. As long as 1.3053 support holds, near term outlook will remain bullish for another rally. On the upside, break of 1.3482 will target 1.3514 key resistance next. Though, firm break of 1.3053 will confirm short term topping and bring deeper correction to 55 day EMA (now at 1.2955) and below.

In the bigger picture, immediate focus is now on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3230; (P) 1.3293; (R1) 1.3344; More….

GBP/USD is staying in consolidation from 1.3482 and intraday bias remains neutral first. As long as 1.3053 support holds, near term outlook will remain bullish for another rally. On the upside, break of 1.3482 will target 1.3514 key resistance next. Though, firm break of 1.3053 will confirm short term topping and bring deeper correction to 55 day EMA (now at 1.2955) and below.

In the bigger picture, immediate focus is now on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3289; (P) 1.3346; (R1) 1.3409; More….

Intraday bias in GBP/USD remains neutral as consolidation from 1.3482 is still extending. As long as 1.3053 support holds, near term outlook will remain bullish for another rally. On the upside, break of 1.3482 will target 1.3514 key resistance next. Though, firm break of 1.3053 will confirm short term topping and bring deeper correction to 55 day EMA (now at 1.2943) and below.

In the bigger picture, immediate focus is now on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3289; (P) 1.3346; (R1) 1.3409; More….

GBP/USD is staying in consolidation below 1.3482 and intraday bias remains neutral first. As long as 1.3053 support holds, near term outlook will remain bullish for another rally. On the upside, break of 1.3482 will target 1.3514 key resistance next. Though, firm break of 1.3053 will confirm short term topping and bring deeper correction to 55 day EMA (now at 1.2943) and below.

In the bigger picture, immediate focus is now on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.3333; (P) 1.3408; (R1) 1.3458; More….

Intraday bias in GBP/USD remains neutral for consolidation below 1.3482 temporary top. Near term outlook will remain bullish as long as 1.3053 support holds. Break of 1.3482 will target 1.3514 key resistance next. Though, firm break of 1.3053 will confirm short term topping and bring deeper correction.

In the bigger picture, immediate focus is now on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.