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

A temporary top is in place at 1.3482 after hitting 161.8% projection of 1.2065 to 1.2813 from 1.2251 at 1.3461. Intraday bias in GBP/USD is turned neutral for some consolidations. Deeper retreat might be seen. But downside should be contained above 1.3053 support to bring another rally. 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.

Daily Pivots: (S1) 1.3315; (P) 1.3356; (R1) 1.3410; More….

GBP/USD’s rally is still in progress and intraday bias stays on the upside. Firm break of 161.8% projection of 1.2065 to 1.2813 from 1.2251 at 1.3461 will target 1.3514 key resistance next. On the downside, below 1.3351 minor support will turn intraday bias neutral first. But break of 1.3053 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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) 1.3315; (P) 1.3356; (R1) 1.3410; More….

Intraday bias in GBP/USD remains on the upside for 161.8% projection of 1.2065 to 1.2813 from 1.2251 at 1.3461. Break there will target 1.3514 key resistance next. On the downside, below 1.3301 minor support will turn intraday bias neutral first. But break of 1.3053 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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) 1.3239; (P) 1.3298; (R1) 1.3410; More….

GBP/USD’s rally is still in progress and intraday bias stays on the upside. Current rise from 1.1409 should target 161.8% projection of 1.2065 to 1.2813 from 1.2251 at 1.3461. On the downside, break of 1.3053 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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) 1.3239; (P) 1.3298; (R1) 1.3410; More….

Intraday bias in GBP/USD remains on the upside at this point. Current rally from 1.1409 should target 161.8% projection of 1.2065 to 1.2813 from 1.2251 at 1.3461. On the downside, break of 1.3053 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.

GBP/USD’s rally from 1.1409 continued last week and reached as high as 1.3356. Initial bias stays on the upside this week. Next target is 161.8% projection of 1.2065 to 1.2813 from 1.2251 at 1.3461. On the downside, break of 1.3053 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.

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) 1.3145; (P) 1.3215; (R1) 1.3269; More….

Intraday bias in GBP/USD stays on the upside at this point. Sustained break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. On the downside, break of 1.3053 support will now indicate short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2864).

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) 1.3145; (P) 1.3215; (R1) 1.3269; More….

Intraday bias in GBP/USD remains on the upside for 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. Sustained break there will pave the way to 1.3514 structural resistance next. On the downside, break of 1.3053 support will now indicate short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2864).

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) 1.3146; (P) 1.3182; (R1) 1.3248; More….

GBP/USD’s break of 1.3267 resistance suggests resumption of recent rise from 1.1409. Intraday bias is back on the upside with focus on 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. Sustained break there will pave the way to 1.3514 structural resistance next. On the downside, break of 1.3053 support will now indicate short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2864).

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) 1.3146; (P) 1.3182; (R1) 1.3248; More….

Intraday bias in GBP/USD remains neutral as range trading is extending. With 1.3005 support intact, further rise is still mildly in favor. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2863).

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) 1.3082; (P) 1.3126; (R1) 1.3194; More….

No change in GBP/USD’s outlook as range trading continues. Intraday bias stays neutral for the moment. With 1.3005 support intact, further rise is still mildly in favor. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2848).

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) 1.3082; (P) 1.3126; (R1) 1.3194; More….

Intraday bias in GBP/USD remains neutral as sideway trading continues. With 1.3005 support intact, further rise is still mildly in favor. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2848).

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) 1.3027; (P) 1.3088; (R1) 1.3122; More….

Range trading continues in GBP/USD and intraday bias remains neutral first. With 1.3005 support intact, further rise is still mildly in favor. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2835).

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) 1.3027; (P) 1.3088; (R1) 1.3122; More….

Intraday bias in GBP/USD remains neutral for the moment. With 1.3005 support intact, further rise is still mildly in favor. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2835).

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) 1.3014; (P) 1.3135; (R1) 1.3210; More….

GBP/USD is staying in range of 1.3005/3267 and intraday bias remains neutral first. Further rise is mildly in favor as long as 1.3005 support holds. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2827).

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) 1.3014; (P) 1.3135; (R1) 1.3210; More….

Intraday bias in GBP/USD remains neutral for the moment. Further rise is mildly in favor as long as 1.3005 support holds. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2827).

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.

GBP/USD edged higher to 1.3267 last week but quickly retreated. Initial bias is neutral this week first. Further rise is mildly in favor as long as 1.3005 support holds. Firm break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2817).

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.

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). Prior rejections by 55 month EMA also affirmed bearishness. Further fall is expected as long as 1.3514 resistance holds.

Daily Pivots: (S1) 1.3113; (P) 1.3168; (R1) 1.3272; More….

GBP/USD is still staying in range of 1.3005/3267 and despite today’s steep fall. Intraday bias remains neutral first and another rise could be seen as long as 1.3005 support holds. Break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2822).

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) 1.3113; (P) 1.3168; (R1) 1.3272; More….

Consolidation continues in GBP/USD and intraday bias remains neutral. Further rise is expected as long as 1.3005 support holds. Break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2822).

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) 1.3039; (P) 1.3153; (R1) 1.3212; More….

Intraday bias in GBP/USD remain neutral for the moment and some consolidations could be seen. But further rise is expected as long as 1.3005 support holds. Break of 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 will pave the way to 1.3514 structural resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 1.3006 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2802).

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.