GBP/USD stayed in range of 1.2247/2647 last week and outlook is unchanged. Initial bias remains neutral this week first. On the downside, sustained break of 1.2247 will suggest completion of whole rebound from 1.1409. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.2647 will resume the rebound from 1.1409 to 1.3200 resistance next.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

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). Rejection by 55 month EMA also affirmed bearishness. Break of 1.1946 will target 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273.

Daily Pivots: (S1) 1.2280; (P) 1.2349; (R1) 1.2432; More….

No change in GBP/USD’s outlook as range trading continues. Intraday bias remains neutral first. Further rise remains in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2280; (P) 1.2349; (R1) 1.2432; More….

Intraday bias in GBP/USD remains neutral as range trading continues inside 1.2247/2647. Further rise remains in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2299; (P) 1.2375; (R1) 1.2414; More….

GBP/USD’s recovery quickly faded today and it’s still staying well inside range of 1.2247/2647. Intraday bias stays neutral first. Further rise remains in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2299; (P) 1.2375; (R1) 1.2414; More…

GBP/USD recovers mildly today but stays well inside range of 1.2247/2647. Intraday bias stays neutral first. Further rise remains in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2409; (P) 1.2446; (R1) 1.2472; More…

GBP/USD is still bounded in range of 1.2247/2647 and intraday bias remains neutral. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2409; (P) 1.2446; (R1) 1.2472; More…

Intraday bias in GBP/USD remains neutral as range trading continues. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2401; (P) 1.2447; (R1) 1.2487; More…

Range trading continues in GBP/USD and intraday bias remains neutral first. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2401; (P) 1.2447; (R1) 1.2487; More…

Intraday bias in GBP/USD remains neutral as range trading continues inside 1.2247/2647. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2450; (P) 1.2526; (R1) 1.2568; More…

GBP/USD is staying in range of 1.2247/2647 and intraday bias remains neutral. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2450; (P) 1.2526; (R1) 1.2568; More…

Intraday bias in GBP/USD remains neutral as range trading continues. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

GBP/USD rebounded strongly last week but failed to break 1.2647 resistance. Initial bias remains neutral this week first. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

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). Rejection by 55 month EMA also affirmed bearishness. Break of 1.1946 will target 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273.

USD/CAD edged lower to 1.3850 last week but quickly recovered after drawing support from 55 day EMA. Outlook is unchanged and initial bias remains neutral this week first. Price actions from 1.4667 are seen as a corrective pattern. In case of another fall, downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4265 will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

In the longer term picture, up trend from 0.9506 is (2007 low) is in progress. Decisive break of 1.4689 will target 61.8% projection of 0.9406 to 1.4689 from 1.2951 at 1.6216. That is close to 1.6196 (2002 high).

Daily Pivots: (S1) 1.2465; (P) 1.2554; (R1) 1.2679; More…

Intraday bias in GBP/USD remains neutral first. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise form 1.1409 and target 1.3200 resistance next. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2465; (P) 1.2554; (R1) 1.2679; More…

GBP/USD is still staying below 1.2647 resistance despite current rebound. Intraday bias remains neutral first. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise form 1.1409 and target 1.3200 resistance next. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2411; (P) 1.2449; (R1) 1.2508; More…

Intraday bias in GBP/USD remains neutral as range trading continues. Intraday bias stays neutral for the moment. With 1.2164 support intact, further rise is mildly in favor. On the upside, break of will extend the rebound from 1.1409 towards 1.3200 resistance. On the downside, break of 1.2164 will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2411; (P) 1.2449; (R1) 1.2508; More…

No change in GBP/USD’s outlook as range trading continues inside 1.2164/2647. Intraday bias stays neutral for the moment. With 1.2164 support intact, further rise is mildly in favor. On the upside, break of will extend the rebound from 1.1409 towards 1.3200 resistance. On the downside, break of 1.2164 will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2378; (P) 1.2448; (R1) 1.2492; More…

GBP/USD is staying in range of 1.2164/2647 and intraday bias remains neutral. Another rise would remain mildly in favor as long as 1.2164 support holds. On the upside, break of will extend the rebound from 1.1409 towards 1.3200 resistance. On the downside, break of 1.2164 will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2378; (P) 1.2448; (R1) 1.2492; More…

Intraday bias in GBP/USD remains neutral as range trading continues. Another rise would remain mildly in favor as long as 1.2164 support holds. On the upside, break of will extend the rebound from 1.1409 towards 1.3200 resistance. On the downside, break of 1.2164 will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2375; (P) 1.2415; (R1) 1.2470; More…

GBP/USD rebounds further today but stays in range of 1.2164/2647. Intraday bias remains neutral for the moment. Another rise would remain mildly in favor as long as 1.2164 support holds. On the upside, break of will extend the rebound from 1.1409 towards 1.3200 resistance. On the downside, break of 1.2164 will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.