GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3109; (P) 1.3147; (R1) 1.3182; More….

GBP/USD lost momentum after hitting 1.3185 and intraday bias is turned neutral again. Further rise will remain in favor as long as 1.2982 support holds. On the upside, break of 1.3185 will resume larger rally to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. However, firm break of 1.2982 will suggest short term topping and turn bias to the downside for deeper correction.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.3063; (P) 1.3112; (R1) 1.3167; More….

Intraday bias in GBP/USD remains on the upside for the moment. Current rise should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 Daily Outlook

Daily Pivots: (S1) 1.3063; (P) 1.3112; (R1) 1.3167; More….

GBP/USD’s break of 1.3170 resistance suggests resumption of whole rise fro m1.1409. Intraday bias is turned back to the upside for 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.2999; (P) 1.3054; (R1) 1.3125; More….

Intraday bias in GBP/USD remains neutral but focus is back on 1.3170 temporary top with today’s rebound. Break there will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 minor support turn bias back to the downside for 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819).

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 Daily Outlook

Daily Pivots: (S1) 1.2999; (P) 1.3054; (R1) 1.3125; More….

Intraday bias in GBP/USD is turned neutral as it recovered quickly after hitting 1.2982. On the upside, break of 1.3170 will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 minor support will resume the correction to 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819).

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 Mid-Day Outlook

Daily Pivots: (S1) 1.3017; (P) 1.3065; (R1) 1.3125; More….

GBP/USD’s break of 1.3013 minor support suggest short term topping in 1.3170. Intraday bias is back on the downside for 4 hour 55 EMA (now at 1.2941) and below. Downside should be contained by 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819) to bring rebound. On the upside, break of 1.3170 will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next.

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 Daily Outlook

Daily Pivots: (S1) 1.3017; (P) 1.3065; (R1) 1.3125; More….

Intraday bias in GBP/USD remains neutral first. On the downside, firm break of 1.3013 minor support should indicate short term topping. Intraday bias will be turned to the downside for 4 hour 55 EMA (now at 1.2937) and below. But downside should be contained by 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819) to bring rebound. On the upside, break of 1.3170 will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.3046; (P) 1.3108; (R1) 1.3145; More….

Focus is turned to 1.3013 minor support in GBP/USD. Break there will indicate short term topping. Intraday bias will be turned to the downside for 4 hour 55 EMA (now at 1.2915) and below. But downside should be contained by 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819) to bring rebound. On the upside, break of 1.3170 will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next.

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 Daily Outlook

Daily Pivots: (S1) 1.3046; (P) 1.3108; (R1) 1.3145; More….

Intraday bias in GBP/USD remains neutral at this point. On the upside, break of 1.3170 will resume the rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. On the downside, below 1.3013 minor support will turn bias to the downside for deeper pull back. But downside should be contained by 1.2813 resistance turned support to bring another rally.

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 Weekly Outlook

GBP/USD’s rally accelerated further to as high as 1.3170 last week. As a temporary top is in place, initial bias is neutral this week first. On the upside, break of 1.3170 will resume the rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. On the downside, below 1.3013 minor support will turn bias to the downside for deeper pull back. But downside should be contained by 1.2813 resistance turned support to bring another rally.

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.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2996; (P) 1.3049; (R1) 1.3154; More….

GBP/USD’s rally is still in progress and intraday bias remains on the upside. Current rally should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.3013 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2669 resistance turned support to bring another rally.

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 Daily Outlook

Daily Pivots: (S1) 1.2996; (P) 1.3049; (R1) 1.3154; More….

Intraday bias in GBP/USD stays on the upside at this point. Current rally should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2944 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2669 resistance turned support to bring another rally.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.2932; (P) 1.2973; (R1) 1.3033; More….

GBP/USD’s rally continues today and hits as high as 1.3054 so far. Intraday bias remains on the upside for 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2944 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2669 resistance turned support to bring another rally.

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 Daily Outlook

Daily Pivots: (S1) 1.2932; (P) 1.2973; (R1) 1.3033; More….

Intraday bias in GBP/USD remains on the upside with 1.2912 minor support intact. Current rally should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2912 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2669 resistance turned support to bring another rally.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.2862; (P) 1.2907; (R1) 1.2977; More….

GBP/USD’s rally extends to as high as 1.2986 so far today and intraday bias remains on the upside. Current rise from 1.1409 should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2912 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2669 resistance turned support to bring another rally.

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 Daily Outlook

Daily Pivots: (S1) 1.2862; (P) 1.2907; (R1) 1.2977; More….

GBP/USD’s rally is still in progress and intraday bias stays on the upside. Current rise from 1.1409 should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2838 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2669 resistance turned support to bring another rally.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.2806; (P) 1.2854; (R1) 1.2927; More….

Intraday bias in GBP/USD stays on the upside and rise from 1.1409 should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2768 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2480 support to bring another rally.

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 Daily Outlook

Daily Pivots: (S1) 1.2806; (P) 1.2854; (R1) 1.2927; More….

Intraday bias in GBP/USD remains on the upside at this point. Current rise from 1.1409 should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2768 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2480 support to bring another rally.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.2741; (P) 1.2772; (R1) 1.2827; More….

Intraday bias in GBP/USD remains on the upside for the moment. Current rise from 1.1409 should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2768 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2480 support to bring another rally.

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 Daily Outlook

Daily Pivots: (S1) 1.2741; (P) 1.2772; (R1) 1.2827; More….

GBP/USD’s rally continues today and hits as high as 1.2858 so far. Break of 1.2813 resistance suggests resumption of whole rise from 1.1409. Intraday bias remains on the upside for 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, below 1.2673 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.2480 support to bring another rally.

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.