Daily Pivots: (S1) 1.2244; (P) 1.2364; (R1) 1.2597; More…

Intraday bias in GBP/USD stays on the upside at this point. Sustained break of 61.8% retracement of 1.3200 to 1.1409 at 1.2516 will raise the chance of larger reversal and turn focus to 1.3200 resistance first. On the downside, though, break of 1.2144 minor support will suggest completion of the rebound and turn bias to the downside for retesting 1.1409 low.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.2244; (P) 1.2364; (R1) 1.2597; More…

Intraday bias in GBP/USD remains on the upside as rebound from 1.1409 is in progress. Sustained break of 61.8% retracement of 1.3200 to 1.1409 at 1.2516 will raise the chance of larger reversal and turn focus to 1.3200 resistance first. On the downside, though, break of 1.2144 minor support will suggest completion of the rebound and turn bias to the downside for retesting 1.1409 low.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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’s rebound from 1.1409 extended higher last week. Further rise is in favor initially this week with focus on 61.8% retracement of 1.3200 to 1.1409 at 1.2516. Break there will raise the chance of larger reversal and turn focus to 1.3200 resistance first. On the downside, though, break of 1.1933 will suggest completion of the rebound and turn bias to the downside for retesting 1.1409 low.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1905; (P) 1.2067; (R1) 1.2356; More…

Intraday bias in GBP/USD remains mildly on the upside at this point. Rebound from 1.1409 would target 61.8% retracement of 1.3200 to 1.1409 at 1.2516. Break there will raise the chance of larger reversal and turn focus to 1.3200 resistance first. On the downside, though, break of 1.1933 will suggest completion of the rebound and turn bias to the downside for retesting 1.1409 low.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1905; (P) 1.2067; (R1) 1.2356; More…

GBP/USD’s break of 1.2129 minor resistance suggests that stronger rebound is underway. Further rise now expected as long as 1.1933 minor support holds. Break of 61.8% retracement of 1.3200 to 1.1409 at 1.2516 will raise the chance of larger reversal and turn focus to 1.3200 resistance first. On the downside, though, break of 1.1933 will suggest completion of the rebound and turn bias to the downside for retesting 1.1409 low.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1698; (P) 1.1836; (R1) 1.2032; More…

GBP/USD recovers further today but stays below 1.2129 resistance. Intraday bias remains neutral for the moment. Upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend. However, firm break of 1.2129 will dampen immediate bearish case and bring stronger rebound.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1698; (P) 1.1836; (R1) 1.2032; More…

GBP/USD is staying in consolidation from 1.1409 and intraday bias remains neutral. Upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend. However, firm break of 1.2129 will dampen immediate bearish case and bring stronger rebound.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1583; (P) 1.1692; (R1) 1.1877; More…

No change in GBP/USD’s outlook as consolidation form 1.1409 is still extending. Stronger recovery cannot be ruled out. But upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend. However, firm break of 1.2129 will dampen immediate bearish case and bring stronger rebound.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1583; (P) 1.1692; (R1) 1.1877; More…

GBP/USD is staying in consolidation from 1.1409 and intraday bias remains neutral first. Stronger recovery cannot be ruled out. but upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1410; (P) 1.1563; (R1) 1.1678; More…

Intraday bias in GBP/USD remains neutral as consolidation from 1.1409 is still extending. Stronger recovery cannot be ruled out. but upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1410; (P) 1.1563; (R1) 1.1678; More…

GBP/USD is extending consolidation from 1.1409 temporary low and intraday bias remains neutral first. Another recovery cannot be ruled out but upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1367; (P) 1.1651; (R1) 1.1889; More…

Intraday bias in GBP/USD stays neutral as consolidation form 1.1409 is extending. Another recovery cannot be ruled out but upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1367; (P) 1.1651; (R1) 1.1889; More…

Intraday bias in GBP/USD remains neutral for consolidation above 1.1409 temporary low. Upside of recovery should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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’s decline accelerated to as low as 1.1409 last week, then formed a temporary low there and recovered. Initial bias remains neutral this week for consolidations first. But recovery should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1395; (P) 1.1594; (R1) 1.1715; More…

Intraday bias in GBP/USD remains neutral for consolidation above 1.1409 temporary low. Some more sideway trading could be seen. But upside should be limited by 1.2129 resistance to bring another decline. Break of 1.1409 will resume whole decline from 1.3514. Though, touching of 1.2129 will indicate short term bottoming and bring lengthier consolidations first.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.1395; (P) 1.1594; (R1) 1.1715; More…

A temporary low is formed at 1.1409 in GBP/USD with 4 hour MACD crossed above signal line. Intraday bias is turned neutral for some consolidations. but upside of recovery should be limited by 1.2129 resistance to bring another decline. Break of 1.1409 will resume whole decline from 1.3514.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. 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) 1.2011; (P) 1.2070; (R1) 1.2102; More…

No change in GBP/USD’s outlook as fall form 1.3514 is still in progress. Sustained break of 261.8% projection of 1.3514 to 1.2905 from 1.3200 at 1.1606 will pave the way to 461.8% projection at 1.0388. On the upside, break of 1.2129 resistance is needed to indicate short term bottoming. Otherwise, outlook stays bearish in case of recovery.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed and . 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) 1.2011; (P) 1.2070; (R1) 1.2102; More…

GBP/USD’s decline accelerated to as low as 1.1449 so far and there is no sign of bottoming yet. Intraday bias remains on the downside at this point. Sustained break of 261.8% projection of 1.3514 to 1.2905 from 1.3200 at 1.1606 will pave the way to 461.8% projection at 1.0388. On the upside, break of 1.2129 resistance is needed to indicate short term bottoming. Otherwise, outlook stays bearish in case of recovery.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed and . 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) 1.1950; (P) 1.2112; (R1) 1.2221; More…

GBP/USD drops to as low as 1.1827 so far. Break of 1.1946/58 key support confirms larger down trend resumption. Intraday bias stays on the downside. Next near term target is 261.8% projection of 1.3514 to 1.2905 from 1.3200 at 1.1606 next. On the upside, above 1.2129 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, break of 1.1946 (2016 low) indicates that larger down trend from 2.1161 (2007 high is resuming). 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) 1.1950; (P) 1.2112; (R1) 1.2221; More…

Interested bias in GBP/USD remains on the downside at this point. Current fall from 1.3514 should target a test on 1.1958 low. Firm break there will confirm larger down trend resumption. On the upside, above 1.2273 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 1.2725 support turned resistance to bring another fall.

In the bigger picture, current development suggests that price actions from 1.1946 (2016 low) are merely a consolidation pattern, with the third leg completed at 1.3514. Rejection by 55 month EMA also solidify long term bearishness. Focus is back on 1.1946 low. Decisive break there will resume larger down trend from 2.1161 (2007 high). This will remain the favored case as long as 1.3514 resistance holds.